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

This joint resolution invokes the Congressional Review Act to reject a Small Business Administration regulation that changes citizenship and residency standards for applicants of the 7(a) and 504 loan programs and rescinds a related procedural notice. It would stop the rule from taking effect, leaving existing eligibility rules unchanged. The measure affects small‑business owners who would have been subject to the new requirements.

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