Bill > HB1461

This bill creates a new Soil Erosion Control Fund in the Missouri state treasury to provide low-interest loans to homeowners' associations for ecological restoration and erosion control projects. The fund will be used to finance projects such as daylighting waterways, restoring natural flood capacity, rehabilitating culverts, and stabilizing stream banks using natural methods. To be eligible, homeowners' associations must be incorporated as nonprofit organizations and must pass an internal assessment approved by a quorum vote. Loans will cover up to 80% of project costs, have interest rates no higher than the federal funds rate plus two percent, and must be repaid within ten years. Importantly, the bill prohibits loans for projects that involve lining drainage ways or covering large natural areas with impermeable surfaces. The Department of Natural Resources will manage the fund, establish application procedures, and set regulations for loan distribution. Moneys in the fund can come from state appropriations, gifts, grants, and loan repayments, and any unspent funds will not revert to the general revenue fund at the end of the biennium.

Agriculture and Natural Resources, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB1461&year=2025&code=R