H.J.Res. 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".

H.J.Res. 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". | JustPolicyThe main purpose of this legislative text is to allow Congress to disapprove a specific rule put forth by the Small Business Administration (SBA). This rule involves changes to the citizenship and residency requirements for individuals applying for certain types of loans, specifically the 7(a) and 504 loan programs. The resolution aims to nullify these changes, indicating that Congress believes the new rules should not be implemented. Key provisions of this resolution include the formal disapproval of the SBA's rule regarding citizenship and residency requirements.