; and (7) by striking pilot each place it appears. (b) Clerical amendment The table of contents in section 2(b) of such Act and the table of contents preceding subtitle A of title VIII of such Act are each amended by striking the item relating to section 880 and inserting the following new item: Sec. 880. Programs for authority to acquire innovative commercial products, commercial technologies, and commercial services using general solicitation competitive procedures. . (c) Increase in simplified acquisition threshold (1) Finding Congress finds that the threshold under which agencies may use simplified acquisition procedures to reduce costs, improve opportunities for qualified businesses, promote efficiency and economy, and avoid unnecessary burdens for agencies and their contractors should be updated. (2) Amendment (A) In general Section 134 of title 41, United States Code, is amended by striking $250,000 and inserting $500,000 . (B) Authority to apply provisions below the threshold The Federal Acquisition Regulatory Council may apply a provision that would not otherwise be applicable below the threshold as amended by subparagraph (A) upon a written determination that it would not be in the best interest of the Federal Government to exempt contracts and subcontracts in amounts not greater than such amended threshold from such provision, such as for national security reasons. (d) Multiple award schedule program competitive procedures (1) Finding Congress finds that the competition standard established by the Administrator of General Services for the multiple award schedule program of the General Services Administration should be updated and made consistent with the competition standard for other procurement methods, such as simplified acquisitions and negotiated procurements. The term best value is defined in the Federal Acquisition Regulation as meaning the expected outcome of an acquisition that, in the Government’s estimation, provides the greatest overall benefit in response to the requirement. (2) Amendments