This bill, the Higher Education Oversight for Nonprofits Ensuring Standards and Transparency Act, restricts how the Internal Revenue Service can investigate nonprofit universities' tax status and compliance. The legislation establishes strict procedural requirements for IRS inquiries and examinations, including mandatory written notice to universities, mandatory conferences, approval from IRS Division Counsel, and time limits of 90 days for inquiries and 2 years for examinations. The bill also requires the Treasury Secretary to notify Congress within 60 days of initiating any tax inquiry or examination of a university and prevents universities from facing new inquiries for 5 years if a prior inquiry found no violations. These protections apply broadly to university activities, including ideological positions and curricular content, though criminal investigations are excluded. The new restrictions take effect upon enactment for any IRS inquiries or examinations that begin after the bill becomes law.