The new law on citizenship comes into force on 27 June 2024, but the processing time for an application for naturalization is usually around 12 months. The decisive factor for your application is the legal situation at the time when the authorities make a decision. It is very likely that this will not be until after June 27. This means that you can, in principle, submit an application for naturalization now, which will then be decided according to the new legal situation. If a decision is made on your application before June 27, 2024, you will first be asked to provide proof that you have been released from your existing citizenship. If you do not do this by June 27, you will be able to benefit from the new law after this date and retain your citizenship.
However, this varies from authority to authority and also depends on how long you have been in Germany. Our lawyers will be happy to advise you on your personal situation.