Note: Before we begin, just because I am reporting this bug does not mean I want it fixed. It is quite useful for base security on multiplayer servers as the beams would normally give away the location of the beacon, making it much easier to be stolen. While the effects are still applied, the fact that the beams don't render until you go down to a certain y-level means that unless you deliberately go down there (or fall down there while the chunk loads), you aren't likely to know where the beacons are.

Steps to reproduce:

1. Build a fully-powered beacon at bedrock.
2. Go through an End or a Nether portal, or, possibly, press f3+a.
3. The beacon beams will not be rendered upon loading the chunk where they are unless you go back below y46.

It is worth noting that this is a client-side rendering problem. As noted above, the effects still apply, and if you go below y46 and back up, you'll still be able to see the beams. The book used in the screenshots teleports the player to an End portal block, in the End, to teleport them to their bed upon clicking the home button, and, due to 1.19.1/1.19.2 fubar-ing the Point Of Interest system, we haven't upgraded. (But that's a different bug.)