House Bill 2975 amends Chapter 325 of the Private Acts of 1980, specifically updating Section 4.07 regarding centralized purchasing for the Town of Bruceton. The bill establishes that any purchases or contracts exceeding $25,000 will require prior approval from the Board and must generally be subject to competitive bidding, with exceptions for minor items or urgent needs. It also stipulates that sealed bids must be invited for such expenditures, with contracts awarded to the lowest responsible bidder, while allowing the Board to waive bidding requirements under certain conditions.

Additionally, the bill mandates that bid records be maintained for at least two years and clarifies that competitive bidding is not necessary for professional services or purchases from other governmental agencies. The act will only take effect if approved by a two-thirds vote of the Town's legislative body, with provisions for immediate effectiveness regarding its approval process.