Establishes the "First-Time Business Owner Savings Account Act" and authorizes a tax deduction for contributions to a savings account dedicated to starting a new business

Summary

The bill would let Missouri residents who have never owned a business and belong to a minority open a special savings account. Contributions up to $800 (or $1,600 for married filers) could be deducted by 50% from state taxable income, and earnings in the account would be tax‑free if used for start‑up costs. The program would automatically end six years after it begins unless reauthorized.

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