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 governed how maximum base rents were calculated using the "maximum gross building rental formula." The change directly affects landlords and tenants subject to these rent regulations by eliminating that specific calculation method. The repeal takes effect immediately, removing the outdated provision from city law.