SB 1359 Summary

• Extends the deadline for the California Breast Cancer Research Fund tax contribution provision from January 1, 2013 to January 1, 2018
• Allows California taxpayers to designate amounts exceeding their tax liability to contribute to the California Breast Cancer Research Fund through tax returns
• Extends the deadline for the California Cancer Research Fund tax contribution provision to January 1, 2018
• Maintains existing provisions allowing the Franchise Tax Board to terminate either fund's tax return appearance if annual contributions fall below $250,000 (adjusted annually for inflation)
• Requires contributions already designated before repeal to continue being transferred and disbursed according to law