Activities That Will Happen as Finance Bill 2024 Proceeds to Committee Stage

MPs in Parliament during the Budget 2024 reading.
MPs in Parliament during the Budget 2024 reading.

The Finance Bill 2024 will now be taken to the Committee Stage following a voting exercise conducted on Thursday, April 20.

In the voting exercise, 204 MPs voted to have the bill proceed to the Committee Stage after the Second Reading session that involved legislators making their remarks about the Bill.

Notably, 115 legislators voted against proceeding to the Committee Stage. Had they garnered the majority, that would have marked the end of the Finance Bill 2024 in parliament.

Now that the Bill is moving to the committee stage, highlights the major activities that will be undertaken on Tuesday, June 25.


The Committee Stage

During the committee stage, the normal House sitting will be turned into a committee-like session.

Unlike the normal sessions that are mostly chaired by Speaker Moses Wetangula, the Tuesday session will be led by Deputy Speaker Glady's Shollei or a member of the Speaker's Panel.

During this stage, MPs will go through the entire Bill, clause by clause as they take a vote on the amendments that were recommended by the Finance Committee.

It is at this stage that MPs will be also able to propose their amendments. Already the lawmakers were required to submit their amendments to the clerk by Thursday, June 20 in the afternoon.

Each amendment will be proposed and a vote taken on it. For instance, an MP may propose to have the Eco Levy removed 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.

Chairman of the Finance and National Planning Committee, Kuria Kimani, during a hearing of public opinion on Finance Bill 2024.
Chairman of the Finance and National Planning Committee, Kuria Kimani, during a hearing of public opinion on Finance Bill 2024.
Kimani Kuria

What Next After Committee Stage

Reading Stage

After the Committee of the whole House concludes the exercise, the chairperson, who was leading the Committee Stage, will report on the exercise undertaken.

Thereafter, a Motion for Agreement with the Report of the committee of the whole House will be moved, seconded and a question put 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 last step and mainly involves passing the Bill. Once the Bill passes this step, it is then submitted to President William Ruto to assent to it.

Once the President assents to it, the Bill will become the Finance Act 2024 with the tax proposals coming into effect on July 1, 2024.

Therefore, should the Act contain tax elements that touch on fuel, the Energy and Petroleum Regulatory Authority (EPRA) will be releasing new pump prices on June 30.

Finance Bill 2023 Signed into Law
President William Ruto (seated) signs Finance Bill 2023 into Law at State House, Nairobi on Monday, June 26, 2023.