President William Ruto signed three critical Bills into law on Wednesday, 4 December 2024, during a ceremony held at State House, Nairobi.
The newly assented legislation includes the Division of Revenue (Amendment) Act, 2024, the National Rating Act, 2024, and the Water (Amendment) Act, 2024.
Division of Revenue (Amendment) Act, 2024
The Division of Revenue (Amendment) Act, 2024, allocates Sh387 billion as the equitable share of revenue to counties for the 2024/2025 financial year.
This figure, representing 24.67 per cent of the most recent audited revenue accounts, exceeds the 15 per cent constitutional minimum requirement.
Initially, Sh400 billion had been set aside for counties, but this was revised downwards to Sh380 billion due to changes following the withdrawal of the Finance Bill.
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After negotiations between the National Assembly and the Senate, the amount was adjusted to Sh387 billion, marking a Sh2 billion increase from the Sh385 billion allocated in the 2023/2024 financial year.
The Act also outlines a total allocation of Sh2.2 trillion to the National Government.
National Rating Act, 2024
The National Rating Act, 2024, establishes a unified framework for property valuation and rating in Kenya.
It provides clear guidelines for counties on assessing property values and determining rates, streamlining the process and ensuring consistency across all devolved units.
Water (Amendment) Act, 2024
The Water (Amendment) Act, 2024, introduces provisions for public-private partnerships (PPPs) in financing water infrastructure projects.
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Under the Act, National Government agencies can collaborate with private sector entities to develop and maintain water works, enhancing resource mobilisation and project delivery.