Establishes tax credits to revitalize Missouri downtowns and main streets

HB 610 creates tax credits for property owners renovating eligible office buildings into residential or mixed-use spaces in Missouri downtowns and main streets. It provides a 25% credit on renovation costs for standard conversions and a 30% credit for upper-floor residential units in designated main street districts, with a $50 million annual cap on total credits. To qualify, buildings must be at least 25 years old, converted to over 50% residential use, and meet specific cost thresholds (e.g., $15,000 minimum for main street projects). The bill reserves 25% of annual credits exclusively for main street district projects, with unused funds available for other locations, and allows credits to be carried forward or transferred.