Sec. 2110.3. Procedure where total annual income as certified on ICF exceeds threshold

In the event that the total annual income as certified is in excess of $250,000, $175,000 or $200,000 in each such year, whichever applies, as provided in section 2110.2 of this Part, the landlord may file an owner's petition for deregulation (OPD), accompanied by the ICF, with the commission on or before June 30th of such year. The commission shall issue within 30 days after the filing of such OPD, an order providing that such housing accommodation shall not be subject to the provisions of the act and this Subchapter as of the first day of March in the year next succeeding the filing of the OPD with the commission. A copy of such order shall be mailed by regular and certified mail, return receipt requested, to the tenant or tenants and a copy thereof shall be mailed to the landlord. Service shall be deemed to be complete upon mailing by the commission.