Belgut MP Nelson Koech has said one can withdraw from paying the 3 per cent Housing Fund levy after seven years.
Koech was speaking on Monday during an interview with Citizen TV.
The legislator explained that the 3 per cent Housing Fund deduction is not a tax but rather, a savings scheme.
"What the President is saying is that if you don't feel like you want to contribute further after seven years, you have an exit strategy. You can always claim your money because it's yours. This deduction is not in any way a tax," the MP reiterated.
Koech said the housing project is going to instantly create employment and every house that will be constructed is going to employ five people.
He said the immediate plan is to do 36,000 housing units.
"This fund is going to directly and indirectly employ many people and we should not be shy of contributing," Koech said.
Additionally, Koech said all the houses will be standardised to look similar.
President William Ruto has moved to introduce an additional deduction in the Finance Bill 2023 named the Housing Fund.
Ruto said salaried employees will be deducted 3% of their salary which will be matched by employers but not exceed Sh5,000 of their salaries to the Housing Fund to support the affordable housing project.
