A bill to restrict the use as a tax shelter of a limited partnership licensed to operate as a small business investment company.

Amends the Internal Revenue Code to provide that in the case of a limited partner in a partnership which is a small business investment company licensed by the Small Business Administration and operating under the Small Business Investment Act of 1958, his share of the partnership liabilities shall not exceed the difference between his actual contribution credited to him by the partnership and the total contribution he is obligated to make under the partnership agreement.