This bill will not accomplish purported aims. Almost every voting method, including Ranked Choice Voting (a rebranded "Instant Runoff Voting"), is governed by a mathematical principle called "Duverger's law", which roughly states over time political parties consolidate into two dominant groups. Anyone hoping this bill will alter the political landscape in favor of increased political competition and subsequent improved representation is, therefore, wrong at best and quite possibly lying to Themselves.
If there is any effect caused by Ranked Choice Voting, it is to make elected Officials more extreme and more exclusive instead of more moderated and inclusive because Candidates do not need to appeal to as many Voters in the earlier "rounds" of voting than the current "first past the post" method.
Now, if You want methods which have been shown to improve representation and subsequent Voter satisfaction, I recommend two steps at least:
(1) Increase the size of the House of Representatives. The United States has one of the highest ratios of Constituents to Representatives of any democratic republic. If memory serves correctly, only India has a higher ratio. An increased legislature size allows for greater focus on the needs of individual Voters, lower campaign costs, increased accountability by Voters, and lower rates of corruption as a result.
(2) If there is any other voting system to use instead of the traditional first-past-the-post method, it is either approval voting, where You vote for as many Candidates as You approve of, or score/range voting, where You rate each Candidate on a scale of 0 to 10, much like the scoring systems in the Olympics. With both systems, Candidates still keep the incentive to appeal to a broad base of Voters in order to be elected and Voters are able to more accurate express Their desires with respect to Candidates instead picking one and only one to say, "Yeah, that one." Approval voting expresses the total set of Candidates You support while score/range voting expresses HOW MUCH You support Them (or don't, which ever the case may be).
The redistricting provisions also will not be as beneficial as they might seem because even independent commissions have their biases because the commission Members have Their biases. A more constructive approach would be to adopt a politically neutral ALGORITHM and have a commission develop redistricting plans in compliance with that algorithm. For example, a state might instruct the commission to use the shortest split line algorithm while preserving neighborhoods, developments, city blocks, etc., and then let the commission do its work using those instructions. Such an approach brings much more objectivity and stability to the political process, reducing not only corruption but opportunities for it and increasing Voter confidence in the political process and the American system of political self-government itself.