HTML is a web standard developed by the Word Wide Web Consortium. The ISO has taken HTML and made a neater standard out of it by removing deprecated HTML elements and bringing out a tighter edition of HTML. The ISO HTML standard is called ISO/IEC 15445:2000.
One of the interesting features for instance of ISO HTML is that if you use an <h1> tag you cannot use an <h3> tag directly after it, but you must follow the <h1> tag with an <h2> first then you may use an <h3> after that. I think this gives you the picture and a taste of what ISO HTML is all about. It tries to make HTML more neat by removing deprecated elements and adding some restrictions to come up with a tighter HTML than that of the W3C.
The question remains however on who will be using such a standard and whether it will ever gain popularity on the web. I personally believe it will not, yet still I find it interesting to use it.