Repeals provisions of the administrative code of the city of New York relating to the establishment of maximum base rents using the maximum gross building rental formula; repealer

This bill repeals specific rent calculation rules in New York City's administrative code. It removes paragraphs 3 and 4 of section 26-405, which previously used a "maximum gross building rental formula" to set maximum base rents for certain buildings. The change directly affects landlords and tenants subject to this outdated rent calculation method. The bill makes no new policy changes - only eliminates the repealed formula from city code.