The bill HB2907/SB1745 introduces changes to local government fiscal obligations for the fiscal year 2024-2025. It allows counties with populations under 250,000 to meet any fiscal obligations from any designated county revenue source, including funds from countywide special taxing jurisdictions. However, it caps the amount that can be used for purposes outside the intended revenue source at $1,250,000. Additionally, counties are required to report to the Joint Legislative Budget Committee by October 1, 2024, on whether they used any revenue sources for unintended purposes and specify the sources and amounts intended for use in the upcoming fiscal year.

The key differences from current law include the specific population threshold of 250,000, the allowance for counties to use various revenue sources for fiscal obligations, and the requirement for reporting on the use of these funds. The bill also emphasizes the fiscal year 2024-2025, which is a new timeframe not explicitly mentioned in the previous law.