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Two Queens lawmakers, State Senator Mike Gianaris and Assemblyman Brian Barnwell, recently introduced a bill in their respective chambers that would repeal the Major Capital Improvements (MCI) program and instead provide building owners with tax credits to offset the costs of upgrades. The MCI program, which was implemented in the 1970s, currently allows owners of rent-stabilized or rent-controlled apartments to pass on the cost of building improvements to tenants by raising the rent.
