The Rhode Island Avenue Corridor Long-Term Lease Adjustment Temporary Amendment Act of 2026 proposes to amend the Deputy Mayor for Planning and Economic Development Limited Grant-Making Authority Act of 2012 by reducing the long-term lease period from 10 years to 5 years. This change includes a stipulation that there must be a minimum of 3 years remaining on an existing lease as of the closing date of the application period.

The bill outlines the necessary procedures for its enactment, including approval by the Mayor and a 30-day congressional review period. Additionally, it specifies that the act will expire 225 days after it takes effect. The fiscal impact statement associated with the bill has been adopted from the Budget Director's assessment.