The Joint Committee on Taxation has issued Present Law and Background Relating to Tax Exemptions and Incentives for Higher Education (JCX-49-06) in connection with a yesterday’s Senate Finance Committee hearing (blogged here):

This document, prepared by the staff of the Joint Committee on Taxation, provides a description of present law and a discussion of selected issues arising with respect to Federal tax benefits provided to tax exempt colleges and universities and various educationrelated tax incentives.