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".

Sponsor: Nydia M. Velázquez (Democratic-NY)July 23, 2026

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

Referred to the House Committee on Small Business.

Blocks new Small Business Administration rules for loan eligibility

This bill would block new rules from the Small Business Administration (SBA) that change who can get 7(a) and 504 business loans. If passed, the rules about citizenship and residency for these loans, issued in February 2026, would not take effect. This means the older requirements for these loans would stay in place.

What Would Change

Today, the Small Business Administration's new rules from February 2026 about citizenship and residency for 7(a) and 504 loans are in effect or would soon take effect. If this bill becomes law, these two rules would be canceled and would have no legal power. This means the previous citizenship and residency requirements for 7(a) and 504 loans would remain in place.

Key Provisions

Blocks the Small Business Administration's new rules about citizenship and residency for 7(a) and 504 loans, making them have no legal power.

View on Congress.gov

HJRES 207 · 119th Congress · July 23, 2026 · AI Summary by gemini-2.5-flash · 8/10

What Would Change

Key Provisions

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