Adds limits on tax inquiries into universities

Sets rules for when the tax agency can look into a university's tax status: written reasons and notice first, deadlines to finish, and limits on repeat inquiries.

• A top Treasury Department official must write down why a university may owe tax before an inquiry starts
• The tax agency must give written notice and offer a conference before examining university records
• Inquiries must be finished within 2 years, or 90 days if no examination follows
• A finished inquiry with no findings blocks a new inquiry for 5 years unless approved in writing

In committee

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