Hon. Teddy Welcomes Ascent to Key Bill
President William Ruto on Wednesday Assented to the Division of Revenue (Amendment) Bill, 2024, the Rating Bill 2022, and the Water (Amendment) Bill, 2024.
The Division of Revenue (Amendment) Act, 2024, provides KSh387 billion as an equitable share of revenue to counties for the financial year 2024/2025.
Initially, KSh400 billion was allocated for the equitable share, but this was reviewed downwards to KSh380 billion following the Finance Bill’s withdrawal.
Eventually, the National Assembly and the Senate struck an agreement and allocated KSh387 billion to counties, representing 24.67 per cent of the most recent audited revenue accounts.
This is way above the 15 percent minimum constitutional requirement. The Act has allocated KSh2.2 trillion to the National Government.
The National Rating Act, 2024, creates a standard framework for valuation and rating and lays clear guidelines on how counties should assess property value and charge rates, among others.
Reacting on the same, Kilifi County Assembly Speaker The Honorable Mr. Speaker Sir. Hon. Teddy Mwambire welcomed the move terming it progressing and a lifeline for counties which for a long time have been struggling to fund their development projects due to a shortfall of funds.
“This is a step in the right direction that underscores the President’s commitment and his government’s readiness to support devolved governments to discharge their mandate. We are continuously working towards making sure that whenever we receive resources, they are allocated to meet the most pressing needs for the smooth running of our counties,” he observed
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