Last Change:

01/23/2025

Afforable Housing Act

Year: 2024

Type: Domestic law

Rights Category: Housing, land & property

Link to external source: https://kenyalaw.org/kl/fileadmin/pdfdownloads/Acts/2024/TheAffordableHousingAct__2024.pdf
Description

The Affordable Housing Act aims to provide accessible, quality housing for low- and middle-income individuals by increasing housing supply, reducing costs, and promoting homeownership through subsidies, incentives, and public-private partnerships.

Selected provisions
Article 8.1 - Establishment of fund

There is established a Fund to be known as the Affordable Housing Fund.

Section 9 - Sources of fund

The Fund shall consist of— (a) the Affordable Housing Levy imposed under section 4; (b) monies appropriated by Parliament for purposes of the Fund; (c) grants, donations, bequests or other gifts made to the Fund; (d) monies borrowed by the Fund with the approval of the Cabinet Secretary and the National Assembly; and (e) income generated from the proceeds of the Fund.