Uhuru signs Division of Revenue Bill into law
05 June 2015, 12:48
Nairobi - President Uhuru Kenyatta has signed into law the Division of Revenue Bill 2015 and Supplementary Appropriation Bill, 2015.
The Division of Revenue Act, 2015 provides for the equitable division of revenue raised nationally between the national and county governments in the 2015/16 financial year.
The Act indicates that the Total County Allocations in the new financial year will be Sh287.04 billion, which translates to 37 percent of the audited revenue.
The Supplementary Appropriation Act, 2015 authorises the release of the sum of Sh50. 464 billion from the Consolidated Fund for utilisation by the Government in fulfilling its financial obligations for the remaining part of the financial year that ends on June 30.
The Act indicates the amount each ministry has been allocated for recurrent and development expenditure for the remaining period of the financial year.
The Bills were presented to the President Thursday evening for his signature by National Assembly Speaker Justin Muturi who was accompanied by the Clerk to the National Assembly Justin Bundi and the Solicitor General Njee Muturi.
Cabinet Secretary for the National Treasury Henry Rotich and Principal Secretary Kamau Thugge were also present at the event.
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