Extend the effectiveness of chapter 84 of the laws of 1993 relating to establishment of initial rents in certain housing accommodations

This bill extends the deadline for a specific rent control rule that applies to housing units renovated with loans given to housing development companies. Originally set to expire on June 30, 2024, the rule is now prolonged until June 30, 2027, ensuring these units remain subject to initial rent limits for a longer period. The change directly affects landlords and tenants involved in projects funded by these specific development loans, allowing the existing rent stabilization measures to continue without interruption.