On Wednesday, President William Ruto signed three key Bills into law during a ceremony at State House, Nairobi. These included the Division of Revenue (Amendment) Bill, 2024, the National Rating Bill, 2022, and the Water (Amendment) Bill, 2024, marking significant steps in the country’s governance and public sector management.
The Division of Revenue (Amendment) Act, 2024 allocates KSh387 billion to counties for the 2024/2025 financial year, surpassing the 15% minimum constitutional requirement for county funding. Originally, counties were set to receive KSh400 billion, but this amount was adjusted to KSh380 billion after the Finance Bill’s withdrawal. Following discussions between the National Assembly and the Senate, the final allocation was agreed upon, representing 24.67% of the most recent audited revenue accounts. This figure reflects a KSh2 billion increase over the KSh385 billion allocated in the previous financial year. The Act also earmarks KSh2.2 trillion for the National Government.
Regarding the National Rating Act, 2024, the law establishes a framework for property valuation and rating, offering counties clear guidelines for assessing property values and determining rates. The Act is seen as an important step in enhancing property tax collection and ensuring fairness in the property rating system.
The Water (Amendment) Act, 2024 focuses on promoting public-private partnerships to finance water infrastructure projects. It encourages collaboration between National Government agencies and private entities to address the country’s water needs, aiming to improve water service delivery across Kenya.
