What relationship does Hubble’s Law formalize for relatively nearby galaxies?

Answer

The recession velocity ($v$) of a galaxy is proportional to its distance ($d$) from us.

Hubble’s Law states that for nearby galaxies where recession velocity is small compared to the speed of light, the recession velocity ($v$) is directly proportional to the distance ($d$) via $v = H_0 d$.

What relationship does Hubble’s Law formalize for relatively nearby galaxies?
DistancecosmologyObjectredshift