This bill aims to improve the transparency, oversight, and efficiency of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. It amends the Small Business Act to require federal agencies to submit their annual SBIR and STTR program reports directly to the House and Senate Small Business Committees and publish them on their websites. A significant provision mandates the Comptroller General of the United States to produce a comprehensive report within three years on the effectiveness of the SBIR and STTR programs regarding diversification and commercialization. This report will assess the demographics of award recipients, including new entrants and underrepresented groups , and evaluate agency efforts to broaden participation, develop solicitation topics, and support technology commercialization. The legislation also extends the requirement for reporting on award timeliness from three years to eleven years, adding a new mandate for agencies to report the average and median time taken to review and make final decisions on proposals. Finally, it establishes a pilot program at the National Institutes of Health (NIH) to significantly reduce the time between SBIR/STTR award notification and the release of funding, aiming for a 90-day turnaround, and allows for streamlined peer review procedures.