cofty, I discussed this question on another thread here. In brief, any sort of sex with anyone under the age of 18 is and remains illegal.
In the example you give the 24 year old would be guilty of a felony. If the act was consensual he will be imprisoned for a period not more than a year. If it is against the will of the 14 year old he will be imprisoned for 7, 9 or 11 years.
This law does not modify the definition of any sexual crime or its sentencing. When the perpetrator has completed his sentence he may be required to register for life as a sex offender. Prior to this Bill this was mandatory for oral or anal sex whether the difference in age was one day or forty. years, but it was at the discretion of the judge if it was vaginal sex and the child was over 13..
Without this Bill lifetime registration is mandatory for oral or anal sex with a minor whether the perpetrator is another teen or a forty year old and the judge has no discretion to treat them differently.