Under the Bill, each developer must pay a levy of 0.5% on the sale price of each house costing up to €270,000 and 1% on the sale price of houses costing over €270,000. That would mean the levy for a €350,000 house would be €3,500. The income from this levy would be paid to local authorities to fund social and affordable housing. By introducing this levy the Minister is ensuring that builders make their contributions as they should. The levies will raise significant funds which in turn will be invested in building more social and affordable housing.