Limits the amount of time to submit supporting documentation for major capital improvements

This bill requires landlords seeking rent increases based on major building improvements to submit all required documentation within 120 days of completing the work. It directly affects property owners in New York City who want to request higher rents under rent control laws for capital improvements like heating, plumbing, or roofing systems. The key provision sets a strict 120-day deadline for submitting paperwork - failure to meet this window means the rent increase request cannot be approved. The bill does not change the maximum allowable rent increase amount but adds this procedural deadline to ensure timely processing.