The Rhode Island Avenue Corridor Long-Term Lease Adjustment Emergency Amendment Act of 2026 proposes an amendment to the Deputy Mayor for Planning and Economic Development Limited Grant-Making Authority Act of 2012. The key change involves reducing the long-term lease period from a minimum of 10 years to no fewer than 5 years, while also stipulating that there must be at least 3 years remaining on any existing lease as of the closing date of the application period. This adjustment aims to provide more flexibility in lease agreements within the specified corridor.

The bill is set to take effect following approval by the Mayor, or if vetoed, through an override by the Council, and it will remain in effect for a maximum of 90 days as per the emergency provisions outlined in the District of Columbia Home Rule Act. The Council has also adopted the fiscal impact statement from the Budget Director, which is required for legislative procedures.