Assembly Substitute Amendment 2 to Assembly Bill 259

Relating to: the evidentiary standard for proving a transaction has economic substance; updating Internal Revenue Code references for state tax purposes; clarifying the duties of the College Savings Program Board; a sales and use tax exemption for title holding entities for certain tax-exempt charitable organizations; computing depletion for income and franchise tax purposes; and reliance by a taxpayer on past audits by the Department of Revenue.