This bill mandates that the Secretary of Defense, acting through the Office of Small Business Programs, conduct a study to review contracts awarded with a value at or below the simplified acquisition threshold . The primary goal of this study is to determine if the Department of Defense is ensuring full consideration and application of requirements relating to small business concerns . Within 180 days of the bill's enactment, the Secretary of Defense must submit a comprehensive report on the study's results to the relevant congressional committees. This report must include the total dollar amount and percentage of such contracts awarded to small businesses over the preceding five years. Furthermore, the report is required to provide an overview of contract types and services not awarded to small businesses, explain the reasons why certain contracts might not be set aside for small business concerns, and identify any trends where contracts that should have been set aside were awarded to non-small businesses. Crucially, it must also include recommendations for changes to statute, regulation, policy, or guidance to ensure better compliance with small business set-aside requirements.