Missouri Bill Would Boost HTC to 35% for Certain Counties, Make Further Changes
A bill prefiled in the Missouri Legislature would make changes to the state historic tax credit (HTC), including boosting the tax credit percentage in certain areas. H.B. 1936 would retain the existing 25% state HTC but provide a boost to 35% of qualified rehabilitation expenditures (QREs) for developments in counties that lack a city with 400,000 or more residents. The legislation would also set standards for what qualifies as QREs for the bonus credit, make residential properties eligible if they are certified historic structures or are in a distressed community, and make exempt from the statewide cap any single certified historic structure of more than 1 million feet that meets certain requirements.
The Novogradac Historic Rehabilitation Handbook provides an overview of the federal and state HTCs and the intricacies of the incentive.