This bill clarifies the applicability of the Administrative Procedure Act (APA) to certain actions of the Small Business Administration (SBA). Its primary purpose is to ensure that the SBA adheres to public notice and comment rulemaking procedures for a broader range of its regulatory activities. Specifically, the legislation overrides an existing exemption under 5 U.S.C. § 553(a)(2) of the APA. This means that SBA rulemakings involving matters related to public property, loans, grants, benefits, or contracts will now be subject to the standard notice and comment requirements, which typically allow for public input before rules are finalized. The bill aims to enhance transparency and stakeholder participation in the SBA's regulatory process concerning these vital areas affecting small businesses.