Creates a Committee on Urban Affairs in the House of Representatives consisting of twenty-five members. Gives the Committee on Urban Affairs jurisdiction over measures in the following areas: (1) housing, (2) urban renewal and slum clearance, (3) prevention and elimination of urban blight, (4) air and water pollution, (5) water supplies and sewage facilities, and (6) transportation.

States that upon the adoption of this resolution it shall be in order to move that the House resolve itself into the Committee of the Whole House on the State of the Union for the consideration of the bill (H.R. 8606) to amend the Small Business Act, and all points of order against section 4, of said bill for failure to comply with the provisions of clause 4 rule XXI are hereby waived. Provides that after general debate, which shall be confined to the bill and shall continue not to exceed one hour, to be equally divided and controlled by the chairman and ranking minority member of the Committee on Banking and Currency, the bill shall be read for amendment under the five-minute rule. Requires that at the conclusion of the consideration of the bill for amendment, the Committee shall rise and report the bill to the House with such amendments as may have been adopted, and the previous questions shall be considered as ordered on the bill and amendments thereto to final passage without intervening motion except one motion to recommit. Stipulates that passage of H.R. 8606, the Committee on Banking and Currency shall be discharged from the futher consideration of the bill S.1672, and it shall then be in order in the House to move to strike out all after the enacting clause of the said Senate bill and insert in lieu thereof the provisions contained in H.R. 8606 as passed by the House.