President William Ruto on Wednesday signed into law three key bills: the Division of Revenue (Amendment) Bill, 2024, the Rating Bill, 2022, and the Water (Amendment) Bill, 2024.

Division of Revenue (Amendment) Act, 2024

Sponsored by Ndindi Nyoro, Chair of the Budget and Appropriations Committee, this law allocates Ksh.387 billion as the equitable share of revenue to counties for the 2024/2025 financial year.

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Initially, the Finance Bill, 2024, had proposed Ksh.400 billion for counties. However, widespread protests led to a revision, reducing the amount to Ksh.380 billion.

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Following negotiations, the National Assembly and Senate agreed on Ksh.387 billion, representing 24.67% of the most recent audited revenue.

This allocation surpasses the constitutional minimum of 15% and marks a Ksh.2 billion increase from the Ksh.385 billion allocated in the 2023/2024 financial year. Additionally, Ksh.2.2 trillion has been allocated to the national government.

Rating Act, 2024

Sponsored by Majority Leader Kimani Ichung’wah, this law introduces a standardized framework for property valuation and rating. It provides clear guidelines for counties to assess property values and impose rates.

The Act also establishes the Office of the Chief Government Valuer, tasked with advising national and county governments on valuation matters.

Water (Amendment) Act, 2024

Also sponsored by Kimani Ichung’wah, this legislation facilitates public-private partnerships to finance the development of water infrastructure by national government agencies.

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These legislative developments are expected to significantly impact county funding, property valuation, and water resource management in Kenya.