The bill proposes restrictions on tax inquiries and examinations of universities to ensure transparency and oversight.

The Higher Education Oversight for Nonprofits Ensuring Standards and Transparency Act amends the Internal Revenue Code to impose restrictions on tax inquiries and examinations of universities. It mandates that the Secretary of the Treasury must complete any university tax inquiry within 90 days if no examination follows. If an examination is initiated, it must be completed within two years. The bill also restricts the period for assessing taxes and beginning court proceedings.

The bill proposes restrictions on tax inquiries and examinations of universities to ensure transparency and oversight.

The Higher Education Oversight for Nonprofits Ensuring Standards and Transparency Act amends the Internal Revenue Code to impose restrictions on tax inquiries and examinations of universities. It mandates that the Secretary of the Treasury must complete any university tax inquiry within 90 days if no examination follows. If an examination is initiated, it must be completed within two years. The bill also restricts the period for assessing taxes and beginning court proceedings.