NY A05643

Establishes a 120-day deadline for landlords to submit applications with all necessary documentation for major capital improvement rent increases, measured from the completion of the improvement.

Applies the 120-day submission requirement across three rent regulation systems: NYC Administrative Code Section 26-405 (Rent Stabilization), Section 26-511 (Mitchell-Lama housing), and the Emergency Tenant Protection Act of 1974.

Denies major capital improvement rent increases to any landlord or property owner who fails to submit a complete application within the 120-day timeframe.

Takes effect immediately, with the rent stabilization amendments remaining in effect only while the public emergency requiring residential rent and eviction controls continues.