contributions or donations A person accepting a contribution or donation described in subsection (a) which is made on a recurring basis shall meet the following requirements with respect to each recurrence of the contribution or donation: (1) Upon receiving the initial contribution or donation and each subsequent recurrence of the contribution or donation, the person shall provide the contributor or donor with a receipt that clearly and conspicuously discloses all of the material terms of the contribution or donation, including a statement of the date and amount of the next recurrence of the contribution or donation. (2) In addition to the information required to be provided under paragraph (1), the person shall include in each communication with the contributor or donor which relates to the contribution or donation all of the information the contributor or donor needs to cancel any subsequent recurrence of the contribution or donation. (3) Upon request of the contributor or donor, the person shall immediately cancel all subsequent recurrences of the contribution or donation which would otherwise be made after receiving the request. . (b) Effective date The amendments made by this Act shall take effect on the earlier of— (1) the date on which the Federal Election Commission promulgates regulations to carry out section 324 of the Federal Election Campaign Act of 1971 (as amended by subsection (a))