President Uhuru Kenyatta yesterday signed into law the 2016 Division of Revenue Bill and the Supplementary Appropriation Bill.
The Division of Revenue Act provides for the equitable division of revenue raised nationally between the national and county governments in the 2016-17 financial year.
The total sharable revenue amounts to Sh1.3 trillion, of which the national government has been allocated Sh1 trillion.
County governments have been allocated Sh280.3 billion, while the Equalisation Fund has been allocated Sh6 billion.
Out of the total revenue allocation for the national government, the funds set aside for conditional grants to county governments amounts to Sh21.9 billion.
The county equitable share represents 30 per cent of the total audited revenue for the 2013-14 financial year.
The county equitable share for 2015-16 amounted to Sh259.8 billion and this allocation has been increased by eight per cent in the next financial year.
Uhuru also signed the Supplementary Appropriation Act, which authorises the release of Sh35.6 billion from the Consolidated Fund.
The money will be used by the government in fulfilling its financial obligations for the remaining part of the current financial year.
The President also signed into law the Climate Change Bill, 2014.
The purpose of the Act is to develop, manage, implement and regulate mechanisms to enhance climate change resilience and lower carbon development in Kenya.
The Act establishes the National Climate Change Council as an overarching high-level national climate change mechanism to be chaired by the President.
It also establishes the Climate Change Directorate, which will be the Secretariat to the council and the lead agency of the government on national climate change plans and actions.
The Act empowers the council to assign duties relating to climate change to both public and private entities.
It establishes the Climate Change Fund as the financing mechanism for priority climate change interventions approved by the council.
The bills were presented to the President this morning for his signature by National Assembly Speaker Justin Muturi, who was with Deputy Speaker Joyce Laboso and other officials.