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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replaces an earlier allocation of Sh400 billion that was later reduced to Sh380 billion after the Finance Bill 2024 was withdrawn.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.
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.
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