What the First-time Homebuyer Savings Account Act means for you Governor Mike Parson pushed forward with new legislation on July 13, 2018, targeting Americans who are in the stages of purchasing their first home. Available in January of 2019, the First-time Homebuyer Savings Account Act will provide state income tax deductions to individuals who utilize a savings account dedicated to storing funds specifically for a first home. Use this guide to the First-time Homebuyer Savings Account Act to ensure to you make the most of this legislation as you start saving to buy your first home! Contact Your Lender The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its affiliates and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.