President William Ruto signs three Bills into law
National
By
Sharon Wanga
| Dec 04, 2024
President William Ruto has signed three parliamentary Bills into law.
The Bills, signed at State House, Nairobi, on Wednesday, November 4, include the Division of Revenue (Amendment) Bill, 2024; the Rating Bill, 2022 and the Water (Amendment) Bill, 2024.
The Division of Revenue (Amendment) Act, 2024, allocates Sh387 billion as an equitable revenue share to counties for the 2024/2025 financial year.
The amount, which meets the 15 per cent minimum constitutional requirement, replaces an earlier allocation of Sh400 billion that was later reduced to Sh380 billion after the Finance Bill 2024 was withdrawn.
The National Assembly and the Senate later agreed on the final allocation. The Act also allocates Sh2.2 trillion to the National Government.
READ MORE
New Levies raise a storm at Mombasa Port
Key details on Trump's market-shaking tariffs
Trump imposes 10pc tariffs on Kenyan goods
Lack of written tenant-landlord agreements hampers tax collection
New architects lobby president spells out agenda
Edible oil processors rekindle push to scrap import duty tax
Geothermal still tops Kenya's energy mix despite output decline
Sudan tea export ban threatens nascent value addition hub in Mombasa
Practitioners bear burden of restoring trust in property sector
The National Rating Act, 2024, introduces a standardised framework for property valuation and rates, guiding counties on how to assess property value and charge rates.
The Water (Amendment) Act, 2024, allows for public-private partnerships in financing the development of water works by National Government agencies.