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".

Nydia M. Velázquez

Democrat · NY · Representative

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Referred to the House Committee on Small Business.

2026-07-23

Source: Congress.gov

Congress would reject a Small Business Administration rule that changed citizenship and residency requirements for small business loans, sending the rule back and preventing it from taking effect. The rule had modified who could qualify for two popular SBA loan programs that help small businesses get financing. This action would restore the previous requirements that were in place before the SBA made these changes.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.J. Res. 207 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. J. RES. 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''. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 23, 2026 Ms. Velazquez submitted the following joint resolution; which was referred to the Committee on Small Business _______________________________________________________________________ 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''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the rule submitted by the Small Business Administration relating to ``Citizenship and Residency Requirements and Recission of Procedural Notice 5000-872050'' (issued February 2, 2026) and ``Revised Applicant Ownership, Citizenship, and Residency Requirements for 7(a) and 504 Loans'' (issued February 11, 2026), determined to be a rule in a letter of opinion by the Government Accountability Office dated July 1, 2026, and printed in the Congressional Record on July 14, 2026, on pages S3929 through S3931, and such rule shall have no force or effect. <all>

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