Missouri Expands Historic Tax Credit Program With HB 3080
Missouri’s Historic Preservation Tax Credit (HTC) program is getting a significant expansion under HB 3080, signed into law this year. HB 3080, or the Missouri Historic, Rural Revitalization, and Development Act, increases the credit rate from 25% to 35% for qualifying projects, will make more than $60 million in tax credits available for qualifying large historic properties.
The legislation creates new categories within the existing program, broadening the range of projects that qualify for state HTCs. The streamlining provisions are already drawing attention from developers and investors, with projects reported across St. Louis, Kansas City, Joplin and St. Joseph.
“Historic Revitalization for Missouri fought to the final hour on passage of HB 3080 in this year’s legislative session,” said Jim Farrell, president of Historic Revitalization for Missouri (HRM), the statewide association for the historic redevelopment industry in an email to Foss & Company in June 2026. “This bill once again positions Missouri as a leader in the country in historic redevelopment projects. The bill’s effective streamlining language is attracting national developers and investors into communities from St. Louis to Joplin and Kansas City to St. Joseph.”
What the credit expansion means for developers and investors
The rate increase from 25% to 35% meaningfully changes the economics for historic rehabilitation projects in Missouri. Combined with the federal HTC, which provides a 20% credit on qualified rehabilitation expenditures, Missouri projects can now access a combined state and federal credit rate can now access a combined state and federal credit rate up to 55% of qualified rehabilitation expenditures.
The annual cap of more than $60 million in state credits, also reduces the uncertainty that has historically constrained deal volume under the program. When credit availability is limited, projects compete for allocations and timelines become unpredictable. A larger cap creates more room for transactions to close on schedule.
The new project categories introduced under HB 3080 have not yet been fully detailed in public guidance, but the expansion of eligible project types signals that the legislature intended to bring more of the state’s historic building stock within reach of the program.
Foss & Company’s work in Missouri
Foss & Company has an established presence in Missouri’s historic preservation market. The firm’s St. Louis projects include the award-winning City Foundry STL, a $217 million redevelopment of a 1929 foundry in Midtown St. Louis that drew $20.7 million in federal Historic Tax Credits (HTC) and $24.1 million in state historic rehabilitation tax credits, and The Brewery Apartments, the redevelopment of the historic Columbia Brewing Company complex into 139 units of mixed-income housing.
HB 3080 expands the pool of viable deals in Missouri and carries an additional benefit for existing investors: the legislation allows movement of credits from prior years, giving those who have already participated in the state program more flexibility. Combined with the rate increase to 35% and the annual cap of over $60 million, the changes make Missouri’s program more attractive to both new and returning investors. “By improving project economics in rural communities, the legislation creates investment opportunities that were often too small for institutional capital or too challenging for rural community-oriented developers. We expect these changes to significantly broaden the pipeline of investable historic rehabilitation projects across the state,” noted Chris Fields, Foss & Company’s Acquisitions Agent.
Foss & Company syndicates federal and state HTCs, giving investors access to projects where the two credits are layered. The firm will continue tracking implementation guidance as the Missouri Department of Economic Development issues additional detail on the new program categories and any procedural changes tied to the streamlining provisions.
Contact Foss & Company to learn more about historic tax credit investment opportunities in Missouri and other markets.