This bill enacts the "African American Cultural and Historical Grant Act," which creates within the state general fund a special account to be known as the African American cultural and historical grant fund. The purpose of the fund is to support capital projects at facilities in this state that highlight the contributions, culture, or history of African Americans. The Tennessee historical commission ("commission") must administer the fund, which is composed of money appropriated by the general assembly for the fund, and gifts, grants, and other donations received by the commission for the fund. DISTRIBUTION OF GRANTS Subject to the availability of funds, this bill requires the commission to allocate and disperse grants to entities and facilities to effectuate this bill. The commission must establish and publish guidelines for applications, including eligibility, and the award of grants. Priority for grants must be given to projects that encourage the design or construction of a new facility in which no facility exists or the renovation of an existing facility in an area with great cultural significance; enhance the beauty or aesthetic value of facilities named for significant African Americans; or restore facilities on the national register of historic places. Money in the fund may be used by the commission for program administration, marketing expenses, and program evaluation. However, such expenses must not exceed 5% of the total amount appropriated for the program in any fiscal year. ANNUAL REPORT This bill requires the commission to submit an annual report to the finance, ways and means committees of the senate and the committee of the house of representatives with jurisdiction over finance by March 1 of each year on the status of this program and the allocation of grant funds. RULEMAKING This bill authorizes the commission to promulgate rules necessary to effectuate this bill.