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".

Edward J. Markey

Democrat · MA · Senator

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

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

2026-07-23

Source: Congress.gov

Congress is trying to block a Small Business Administration rule that would change who can qualify for certain government-backed business loans by adding new citizenship and residency requirements. The rule would affect small business owners seeking 7(a) and 504 loans, which are popular financing programs for entrepreneurs. If approved, this resolution would prevent the new requirements from taking effect.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S.J. Res. 202 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. J. RES. 202 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''. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES July 23, 2026 Mr. Markey introduced the following joint resolution; which was read twice and referred to the Committee on Small Business and Entrepreneurship _______________________________________________________________________ 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''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the rule submitted by the Small Business Administration relating to ``Citizenship and Residency Requirements and Recission of Procedural Notice 5000-872050'' (issued February 2, 2026) and ``Revised Applicant Ownership, Citizenship, and Residency Requirements for 7(a) and 504 Loans'' (issued February 11, 2026), determined to be a rule in a letter of opinion by the Government Accountability Office dated July 1, 2026, and printed in the Congressional Record on July 14, 2026, on pages S3929 through S3931, and such rule shall have no force or effect. <all>

• S5112A bill to amend the Public Health Service Act to require the Secretary of Health and Human Services to enforce certain requirements with respect to for-profit corporations that own health care systems, and for other purposes.
  Referred to Committee · 2026-07-23
• S5119A bill to require the United States Postal Service to sell the Alzheimer's semipostal stamp for 6 additional years.
  Referred to Committee · 2026-07-23
• S4980Water Emergency and Technical Assistance Act of 2026
  Referred to Committee · 2026-07-14
• S4982Good Jobs for Good Airports Act
  Referred to Committee · 2026-07-14