SBIR and STTR Permanency and Improvement Act of 2019 This bill permanently authorizes the Small Business Innovation and Research (SBIR) and Small Business Technology Transfer (STTR) programs and otherwise modifies provisions governing the administration of the programs. Specifically, the bill increases the allocation of each federal agency's extramural research budget for the SBIR and STTR programs. The bill also requires each agency participating in the programs to reduce the time between application and award disbursement. Lastly, the bill authorizes each agency participating in the SBIR program to award up to 25% of allocated funding to small businesses that are backed by venture capital.