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".

Sponsor: Edward J. Markey (Democratic-MA)July 23, 2026

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

Read twice and referred to the Committee on Small Business and Entrepreneurship.

Congress would block new rules from the Small Business Administration on who can get business loans.

This bill would stop 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 requirements for these loans would not take effect. This means people applying for these loans would not face the new conditions proposed by the SBA.

What Would Change

Today, the Small Business Administration has submitted new rules that would change citizenship and residency requirements for 7(a) and 504 business loans. If this bill becomes law, these new rules would be canceled and would not take effect. This means the requirements for loan applicants would remain as they were before the proposed changes.

Key Provisions

Blocks new rules from the Small Business Administration about who can get 7(a) and 504 business loans.
Ensures that citizenship and residency requirements for these loans would not change based on the proposed rules issued in February 2026.

View on Congress.gov

SJRES 202 · 119th Congress · July 23, 2026 · AI Summary by gemini-2.5-flash · 9/10

What Would Change

Key Provisions

Lobbying Activity