President Ruto assents to law three key bills

By Robert Mutasi

President William Ruto on Wednesday, December 4,2024 at State House Nairobi assented to three major bills: the Division of Revenue (Amendment) Bill, 2024, the Rating Bill, 2022, and the Water (Amendment) Bill, 2024.

These legislative milestones are expected to shape the financial, property valuation, and water management landscapes in Kenya.

The Division of Revenue (Amendment) Act, 2024 amends the equitable revenue allocation to counties, allocating KSh387 billion for the financial year 2024/2025. 

This figure represents 24.67% of the latest audited revenue accounts, which is above the constitutional minimum of 15%.

Counties had initially been allocated KSh400 billion, but this was revised to KSh380 billion after the withdrawal of the Finance Bill. 

The current figure is a consensus after months of hard negotiations between the National Assembly and the Senate. 

Meanwhile, the Act has allocated KSh2.2 trillion to the National Government, an indication of the expanded fiscal plan for this year. President Ruto said, "This allocation emphasizes our commitment to the equitable development of our country. It is a commitment that resources should be distributed in a fair and sustainable manner.".

The National Rating Act, 2024 provides a uniform system of valuation and rating of property.

It lays down the guidelines on how counties should assess the values of properties and rate them. 

This will facilitate efficient collection of revenue, reduce disputes over assessments, and ensure fair taxation of land and buildings.

Finally, the Water Amendment Act 2024 allows for public-private partnerships in the financing of water infrastructure projects.

In allowing National Government agencies to partner with the private sector, the law has set out to hasten the development of water works across the country.

This is in line with a long-term strategy of addressing Kenya's problems with water shortage and ensuring service provision to the people.

These approvals by the legislatures reflect the government's commitment to fiscal prudence, effective resource management, and sustainable infrastructure development. 

Experts say that such measures will further strengthen county governments in terms of autonomy and financial capabilities, besides encouraging collaboration between counties in critical sectors like water and property management.

The president then concluded by calling on all concerned agencies to have their activities comply with the new laws.

"Let us together ensure these mechanisms translate into real benefits to Kenyans," he added. In this direction, the bills are targeted for implementation in the months to come.

This will be a step further as the nation develops more inclusive and effective forms of government.