Step-By-Step Procedure For The Finance Bill 2024 As The Nation Awaits Tuesday
Following a vote on Thursday, April 20, the Finance Bill 2024 will move on to the Committee Stage.
Following the Second Reading session in which legislators made their remarks about the Bill, 204 MPs voted to move the bill to the Committee Stage.
Notably, 115 legislators voted against moving to the Committee Stage. If they had won a majority, the Finance Bill 2024 would have been defeated in parliament.
Now that the Bill has moved to the committee stage, we highlight the major activities that will take place on Tuesday, June 25.
Committee Stage
During the committee stage, the regular House sitting will be turned into a committee-like session.
Unlike the regular sessions, which are usually chaired by Speaker Moses Wetangula, the Tuesday session will be led by Deputy Speaker Gladys Shollei or a member of the Speaker’s Panel.
During this stage, MPs will go through the Bill, clause by clause, and vote on the Finance Committee’s recommended amendments.
At this point, MPs will be able to propose amendments. The lawmakers had already been required to submit their amendments to the clerk by Thursday afternoon, June 20.
Each amendment will be proposed and then voted on. For example, an MP may propose removing the Eco Levy from the Bill.
“If the amendment is passed, it becomes part of the Bill. After consideration of the Bill at the Committee of the Whole House stage, the Sponsor of the Bill moves a motion seeking that the Chairperson report the consideration of the Bill to the House.
“In the event that the Committee is unable to conclude consideration of the Bill, the Sponsor moves a Motion that the Committee reports to House the progress made thus far on the Bill,” Parliament detailed.
What Follows The Committee Stage?
Reading stage
After the Committee of the Whole House has completed the exercise, the chairperson, who led the Committee Stage, will report on it.
Following that, a Motion for Agreement with the Report of the Committee of the Whole House will be moved, seconded, and a question posed to the MPs before the Bill moves to the Third Reading.
“A Motion for Agreement is one that seeks approval of the House with the form in which the Committee of the whole House has considered the Bill,” Parliament explained.
Third Reading
This is the final step, which primarily involves passing the Bill. Once the Bill has passed this stage, it is presented to President William Ruto for assent.
When the President signs it, the Bill becomes the Finance Act 2024, and the tax proposals take effect on July 1, 2024.
As a result, if the Act includes fuel-related tax provisions, the Energy and Petroleum Regulatory Authority (EPRA) will set new pump prices on June 30.
Step-By-Step Procedure For The Finance Bill 2024 As The Nation Awaits Tuesday
