MO HB1734

Creates the "Soil Erosion Control Fund" in the state treasury to provide loans to homeowners' associations for erosion control projects on creeks, streams, and waterways near residential areas

Eligible projects include daylighting waterways, restoring natural flood capacity, rehabilitating natural culverts, and bank stabilization using vegetation or natural means

Projects using impermeable surfaces to line drainage-ways or cover large natural areas are explicitly prohibited from receiving loans

Loan terms capped at interest rate of federal funds rate or 2% (whichever is greater), maximum of 80% of project cost per fiscal year, and repayment period of no more than 10 years

Homeowners' associations must be incorporated as nonprofits, pass an assessment vote with documented quorum, and place liens on properties abutting improvements as loan collateral