1. Short title This Act may be cited as the Promoting Rigorous and Innovative Cost Efficiencies for Federal Procurement and Acquisitions Act of 2019 or the PRICE Act of 2019 . 2. Findings Congress finds that— (1) small business participation in the Federal marketplace is key to ensuring a strong industrial base; (2) the Business Opportunity Development Reform Act of 1988 ( Public Law 100–656 ) sets forth the requirement for the President to establish Government-wide goals for procurement contracts awarded to small businesses; (3) each year, the Small Business Administration works with each Federal agency to set their respective contracting goals and publishes a scorecard to ensure that the total of all Federal agency goals meets the required targets for the Federal Government; (4) the Department has received among the highest scorecard letter grades 10 years in a row and is the largest Federal agency to have such a track record; (5) in virtually every segment of the economy of the United States, including the homeland security community, there are small businesses working to support the mission and playing a critical role in delivering efficient and innovative solutions to the acquisition needs of the Federal Government; (6) the Procurement Innovation Lab of the Department— (A) is aimed at experimenting with innovative acquisition techniques across the Homeland Security enterprise; (B) provides a forum to test new ideas, share lessons learned, and promote best practices; (C) fosters cultural changes that promote innovation and managed risk taking through a continuous cycle of testing, obtaining feedback, sharing information, and retesting where appropriate; and (D) aims to make the acquisition process more smooth and innovative within the construct of the Federal Acquisition Regulation for both the Federal Government and contractors