© AFP 2016/ THOMAS COEX
The Israeli Parliament on Wednesday made the decision to postpone the vote on a bill that would retroactively legalize thousands of settler homes on the West Bank's private land, amid disputes between Israeli lawmakers, local media reported Wednesday.

The draft settlement bill proposes to allow Israeli settlers to remain on the Palestinian territory, while offering financial compensation to owners of the land. It has already been approved in the first reading.

According to the Jerusalem Post, a fraction of the Kulanu party has been in disagreement with the Likud party over the option of blocking court orders on legalization of settlements. Likud supported the inclusion of the option in the bill, while Kulanu opposed. As a result, Kulanu withdrew the bill from parliamentary discussions, the media reported.

Over 500,000 Jewish settlers live in the West Bank, including East Jerusalem, according to United Nations figures. The settlements are considered illegal by the United Nations, and West Bank territory is considered occupied territory by the International Court of Justice. The West Bank has been occupied by Israel since 1967.