President William Ruto signed three transformative bills into law on Wednesday, December 4, 2024, at State House, Nairobi, solidifying legislative frameworks on revenue allocation, property valuation, and water services.
The new laws include the Division of Revenue (Amendment) Bill, 2024, the National Rating Bill, 2022, and the Water (Amendment) Bill, 2024.
The Division of Revenue (Amendment) Act, 2024 allocates KSh387 billion as equitable revenue for counties in the 2024/2025 financial year, a figure revised from an initial KSh400 billion.
“This represents 24.67 percent of the most recent audited revenue accounts,” Ruto stated, highlighting the resolution between the National Assembly and the Senate on the matter.
The National Rating Act, 2024, establishes a standardized framework for valuing property and imposing rates at the county level. It aims to enhance accountability in revenue collection and streamline property assessments using modern technology for greater efficiency.
The Water (Amendment) Act, 2024 focuses on expanding water infrastructure through public-private partnerships (PPPs). It empowers national agencies to collaborate with investors on bulk water projects, regulated by the Water Services Regulatory Board (WASREB), to improve access to water services while protecting consumers.
These laws mark significant steps in strengthening county revenue generation, ensuring efficient water services, and fostering collaboration between government and private investors.
