Renewal takes effect on the date that your current subscription expires.
So, for you that would be 7/2010 after your renewal is processed.
It can take up to 24 hours for the subscription status to be updated in OneCare if you are renewing within 30 days of expiration and 5 days if renewal was performed between 90 and 30 days before expiration.
-steve
Microsoft MVP Windows Live / Windows Live OneCare & Live Mesh Forum Moderator