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".

This joint resolution seeks to disapprove a rule issued by the Small Business Administration that changes citizenship and residency requirements for 7(a) and 504 business loans. If passed, the measure would cancel the new regulations, preventing any updates to who is eligible to own or apply for these specific types of government-backed loans. The bill directly affects small business owners and lenders who might have been impacted by the proposed restrictions. By rejecting the rule, Congress intends to stop the changes from taking legal effect.