Nydia Velázquez (D-NY)
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".
A Democratic resolution with no cosponsors
Last activity — Referred to the House Committee on Small Business.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This joint resolution aims to provide congressional disapproval of a rule submitted by the Small Business Administration. The rule involves citizenship and residency requirements, as well as the rescission of Procedural Notice 5000-872050. It also addresses revised applicant ownership, citizenship, and residency requirements for 7(a) and 504 loans. The Government Accountability Office determined this to be a rule in a letter of opinion dated July 1, 2026. If passed, the specified rule shall have no force or effect.
Yes· 3 of 6
- Scored +3
Would business owners be better off under this?
The resolution assists business owners by preventing more restrictive eligibility requirements for SBA 7(a) and 504 loans.
- Scored +3
Does this make it easier to run a small business?
The resolution blocks SBA rules that would have imposed more stringent citizenship and residency requirements for 7(a) and 504 loan applicants.
- Scored +2
Would Hispanic Americans be better off under this?
Preventing restrictive residency requirements can benefit immigrant-heavy entrepreneurship demographics.
The opposite
- Scored -2
Does this give the federal government more power?
The resolution uses congressional disapproval to strip the Small Business Administration of the authority to implement its specific new rule.
Who it would affect, and how
Potential Positive Impacts for People
- The resolution seeks to stop the implementation of the Small Business Administration's rule regarding "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". By disapproving these rules, it prevents those specific requirements from having force or effect.
Potential Negative Impacts for People
- There are no specific negative consequences or burdens for individuals or groups of people explicitly detailed within the provided text of this resolution.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — The resolution assists business owners by preventing more restrictive eligibility requirements for SBA 7(a) and 504 loans. Would Hispanic Americans be better off under this? — Preventing restrictive residency requirements can benefit immigrant-heavy entrepreneurship demographics. Would immigrants be better off under this? — The resolution maintains easier access to business financing for those who might have been restricted by the new residency and ownership rules.
- Economy And Finance
- Does this make it easier to run a small business? — The resolution blocks SBA rules that would have imposed more stringent citizenship and residency requirements for 7(a) and 504 loan applicants. Is this likely to create jobs? — The resolution prevents stricter citizenship and residency requirements for SBA loans, which may facilitate easier access to capital for job-creating small businesses.
- Governance And Ideology
- Does this give the federal government more power? — The resolution uses congressional disapproval to strip the Small Business Administration of the authority to implement its specific new rule.
- Social Issues And Justice
- Does this make it easier for immigrants already here to become citizens? — By blocking restrictive ownership and residency requirements for business loans, the resolution indirectly supports the economic integration of non-citizens.
- 7/23/2026
- Referred to the House Committee on Small Business.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.