Concerns exemptions to municipal rent control and rent leveling ordinances.

Summary

The bill rewrites the rules for when developers can claim a rent‑increase exemption under existing state rent‑control laws. It limits the exemption to the original owner, ties its duration to the initial mortgage term, and prevents ownership or financing changes from restarting the exemption. Municipal rent‑control ordinances will apply unless a valid exemption was filed before construction was completed.

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