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In a landmark move, the Kenyan government is poised to revolutionize the housing sector with the introduction of the Affordable Housing Act of 2024. This pivotal legislation, once signed into law, will mark the end of backdated deductions, setting a new precedent for housing policies in the nation.
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The Affordable Housing Act of 2024 is designed to replace the outdated Section 84 of the Employment Act and the Finance Act. It will introduce new Sections 31B and 31C, which will serve as the foundation for modernized housing levy deductions. This change signifies a significant shift from the previous legal framework, aiming to make housing more accessible and affordable for Kenyans.
Hunger kills 😔
The new law is expected to streamline the process of housing levy deductions, ensuring clarity and fairness for both employers and employees. It also reflects the government’s commitment to addressing the housing needs of its citizens and fostering a more equitable society.
As the nation awaits the official signing of the bill, there is a sense of optimism that the Affordable Housing Act of 2024 will pave the way for a brighter future for all Kenyans seeking a place to call home.
