; and (2) by striking a corporation and inserting a nonprofit corporation . (d) Effective date; transition for existing funds and committees (1) Effective date The amendments made by this Act shall take effect on the date of the enactment of this Act. (2) Transition for existing funds and committees In the case of a separate segregate fund established and operating under section 316(b)(2)(C) of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30118(b)(2)(C) ) as of the date of the enactment of this Act which is not a fund of a nonprofit corporation as defined in section 316(b)(8) of such Act (as added by subsection (a)(2)), the fund shall terminate and disburse its entire balance not later than 1 year after the date of the enactment of this Act. 714. Disclosure of campaign-related disbursements (a) Disclosure requirements for corporations, labor organizations, and certain other entities (1) In general Section 324 of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30126 ) is amended to read as follows: 324. Disclosure of campaign-related disbursements by covered organizations (a) Disclosure statement (1) In general Any covered organization that makes campaign-related disbursements aggregating more than $10,000 in an election reporting cycle shall, not later than 24 hours after each disclosure date, file a statement with the Commission made under penalty of perjury that contains the information described in paragraph (2)— (A) in the case of the first statement filed under this subsection, for the period beginning on the first day of the election reporting cycle (or, if earlier, the period beginning one year before the first such disclosure date) and ending on the first such disclosure date