Relates to waivers of rent adjustments attributable to major capital improvements

This bill requires property owners who receive tax abatements for major capital improvements (like significant renovations) to waive half of the rent increase they would otherwise collect from tenants due to those improvements. It applies to owners seeking tax benefits for renovations completed after the bill's effective date, excluding properties receiving city/state/federal subsidies or vacant building rehabs. Owners must formally declare this waiver when applying for tax benefits, binding them and future owners to share the tax savings with tenants. The waiver ends once the tax abatement expires, allowing full rent adjustments.