A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Small Business Administration relating to "Citizenship and Residency Requirements and Recission of Procedural Notice 5000-872050" and "Revised Applicant Ownership, Citizenship, and Residency Requirements for 7(a) and 504 Loans".
Summary
AI Summary
This joint resolution expresses congressional disapproval of two specific rules submitted by the Small Business Administration (SBA) regarding eligibility for its loan programs. These rules, issued in February 2026, are titled "Citizenship and Residency Requirements and Recission of Procedural Notice 5000-872050" and "Revised Applicant Ownership, Citizenship, and Residency Requirements for 7(a) and 504 Loans."
The resolution invokes chapter 8 of title 5, United States Code, to nullify these regulations. If enacted, this measure would ensure that the disapproved SBA rules, which concern applicant ownership, citizenship, and residency for 7(a) and 504 loans, would have no legal force or effect.
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Timeline
Latest companion bill action
HJRES-207: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Small Business Administration relating to "Citizenship and Residency Requirements and Recission of Procedural Notice 5000-872050" and "Revised Applicant Ownership, Citizenship, and Residency Requirements for 7(a) and 504 Loans".Introduced in House
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Senate
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