This joint resolution would disapprove a rule the Small Business Administration (SBA) submitted. The rule is 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 Government Accountability Office issued a letter on July 1, 2026, saying the item is a rule. The resolution says that the rule "shall have no force or effect." The resolution was introduced in the Senate by Senator Edward Markey on July 23, 2026 and referred to the Committee on Small Business and Entrepreneurship.
No publicly available information about specific effects beyond what the resolution says. If the resolution is enacted, it would make the named SBA rule have no force or effect.
No publicly available information about costs or budget effects.
No publicly available information describing proponents' statements or reasons in the bill text or metadata provided.
No publicly available information describing opponents' statements or reasons in the bill text or metadata provided.