Level Limit - Area B is a Continuous Spell Card.
Spell Cards are usually activated from the hand on your turn unless their type gives another timing window.
On the current TCG and OCG Forbidden & Limited lists tracked here, Level Limit - Area B is Unlimited.
YGOPRODeck lists Level Limit - Area B for these formats: GOAT, OCG GOAT, Common Charity, Edison, TCG, OCG, Master Duel.
A listed print of Level Limit - Area B appears in Ancient Sanctuary (AST-092) at Short Print rarity.
Among markets shown on this page, the lowest listed snapshot for Level Limit - Area B is about $2.12 on Cardmarket (prices change frequently).
