This bill amends the Small Business Act to require each federal agency required to have a Small Business Innovation Research (SBIR) Program or Small Business Technology Transfer (STTR) Program and the Small Business Administration (SBA) to meet annually and report to Congress recommendations on how to: improve collection of SBIR and STTR program data, improve reporting of such data to the SBA, make the application process for such programs more efficient, and increase participation in the programs. The bill repeals the authority of the SBA to waive the requirement for agencies to carry out enhanced outreach efforts to increase the participation of socially and economically disadvantaged small business concerns and to increase participation of states to which a low level of SBIR awards have historically been awarded.