A two stage voltage boost circuit, IC and design structure are disclosed for boosting a supply voltage using gate control circuitry to reduce gate oxide stress, thus allowing lower voltage level FETs to be used. The voltage boost circuit may include a first stage for boosting the supply voltage to a first boosted voltage and a second stage for boosting the first boosted voltage to a second boosted voltage. Each stage may include a passgate and a gate control circuit for generating an on-state gate voltage level for the respective passgate adjusted to reduce gate oxide voltage stress on the passgate. The circuit may also include a precharge circuit for coupling a voltage on a high node of the second stage to a gate node of a precharge transistor thereof for disabling the precharge transistor and preventing leakage back to a power supply voltage.