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Bill

HJRES 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".

119th Congress Introduced by Nydia Velázquez

H.J.Res. 207 would disapprove and nullify two SBA rules on citizenship, residency, and ownership for SBA 7(a) and 504 loans, making them have no force or effect.

Introduced in House
0
WeVote Research Nonpartisan
Bill Summary · HJRES 207

Purpose and intent

  • The bill is a joint resolution intended to provide for congressional disapproval under chapter 8 of title 5, United States Code, of two Small Business Administration (SBA) rules related to citizenship, residency, and ownership requirements for SBA loan programs.
  • Specifically, it targets:
    • The SBA rule titled “Citizenship and Residency Requirements and Recission of Procedural Notice 5000–872050” (issued February 2, 2026).
    • The SBA rule titled “Revised Applicant Ownership, Citizenship, and Residency Requirements for 7(a) and 504 Loans” (issued February 11, 2026).
  • The resolution cites a Government Accountability Office (GAO) opinion dated July 1, 2026, which determined the rules to be a rule in a letter of opinion. It indicates Congress disapproves the rules and that they shall have no force or effect.

Key provisions and changes

  • The bill, if enacted, would disapprove the two SBA rules under the procedural mechanism for disapproval outlined in chapter 8 of title 5, U.S.C.
  • It explicitly states that the rules “shall have no force or effect.”
  • The resolution references the GAO opinion as the basis for disapproval, and it notes the date of that opinion and its publication in the Congressional Record (July 14, 2026, pages S3929–S3931).

Who or what would be affected

  • The immediate impact would be on the two SBA rule changes regarding:
    • Citizenship and residency requirements and any associated rescission of Procedural Notice 5000–872050.
    • Revised ownership, citizenship, and residency requirements for SBA 7(a) and 504 loan programs.
  • Operationally, lenders, borrowers, and program applicants involved in SBA loan programs would be affected to the extent these rules would otherwise govern eligibility criteria, ownership, and residency requirements. The disapproval would revert or leave in place prior rules and processes, pending any future agency rulemaking.

Procedural and timeline aspects

  • The resolution was introduced in the House on July 23, 2026, by Ms. Velázquez and referred to the Committee on Small Business.
  • It is a joint resolution with the Senate having previously considered or specified intent (as indicated by GAO opinion citation), using the congressional disapproval mechanism under 5 U.S.C. § 802.
  • The GAO letter of opinion, dated July 1, 2026, is cited as the determiner that these items are considered rules subject to disapproval under this process.
  • If adopted, the resolution would prevent the two SBA rules from taking effect and would effectively nullify their regulatory impact. It does not, by itself, repeal statutory provisions but blocks the rules.

Summary in one line

  • H.J.Res. 207 seeks to disapprove and nullify two SBA rules concerning citizenship, residency, and ownership requirements for SBA loan programs (7(a) and 504), based on a GAO opinion, under Congress’s disapproval mechanism, so they would have no force or effect.

Compiled from official sources — confirm details with the bill’s official record.

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