Template agreements and contracts; filing with department.

(a) No agreement or contract entered into under this subchapter , including development agreements, shall be deemed valid or enforceable unless the information specified in this section is filed with the Department within 30 days after signature by all parties. Information submitted to the Department shall include: (1) Address and ward; (2) Unit count; (3) Sales price; (4) Information related to rent-stabilization; (5) Information related to income-restricted units and subsidies; and (6) Other information as determined by the Department. (b) No later than [June 29, 2026], the Department, pursuant to subchapter I of Chapter 5 of Title 2 , shall issue rules to establish: (1) A standard template for purchase contracts; and (2) Rules governing the minimum information required to be included in a purchase contract. (c) The use of templates established pursuant to subsection (b) shall not be mandatory for the execution of an agreement governed by this chapter .