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

HB 2679 creates a tax deduction for Missouri residents who open "First-Time Business Owner Savings Accounts" to fund new business startups. Eligible individuals - defined as those who have never owned a business before and identify as members of a racial, ethnic, religious, or cultural minority - can deduct 50% of annual contributions (up to $800 for single filers or $1,600 for joint filers) from their state taxable income. The savings account must be used for eligible startup costs (like equipment, legal fees, or rent) within six years, with total contributions capped at $20,000 per account. The program expires automatically in 2033 unless reauthorized by the legislature.