President William Ruto has signed into law three crucial bills: the Division of Revenue (Amendment) Bill, 2024, the Rating Bill, 2022, and the Water (Amendment) Bill, 2024, at State House Nairobi.

The Division of Revenue (Amendment) Act, 2024, allocates KSh387 billion as the equitable share of revenue to county governments for the financial year 2024/2025. Initially set at KSh400 billion, the figure was revised to KSh380 billion after adjustments to the Finance Bill.

A consensus between the National Assembly and Senate raised the allocation to KSh387 billion, representing 24.67% of the most recent audited revenue accounts, significantly exceeding the constitutional minimum of 15%. The Act also allocates KSh2.2 trillion to the National Government.

The National Rating Act, 2024, establishes a standardized framework for property valuation and rating, providing clear guidelines for county governments on assessing property values and setting rates.

This aims to enhance consistency and fairness in property taxation across the country.

The Water (Amendment) Act, 2024, introduces public-private partnerships to fund the development of water infrastructure by National Government agencies, addressing the growing need for sustainable water resource management.

President Ruto commended Parliament for the bipartisan approach in passing these laws, highlighting their significance in strengthening fiscal accountability, improving governance at the county level, and fostering private sector participation in infrastructure development.

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