Senate Bill 1490 amends various sections of the Tennessee Code Annotated to establish new provisions regarding local historical boards. The bill defines key terms such as "crops," "farmer," and "local historical board," the latter of which refers to governmental entities that oversee the preservation of historic sites and structures. It authorizes these boards to contract with farmers for farming crops on historical site land that is five or more contiguous acres, and to harvest hay and other naturally grown products on land with fewer than five contiguous acres.

Additionally, the bill mandates that all proceeds from these contracts must be used for the preservation of historic sites managed by the local historical boards. It requires these boards to submit an annual report to the Tennessee historical commission detailing the contracts entered into and the use of proceeds. The Tennessee historical commission, with assistance from the department of agriculture, is tasked with developing standard contracts for local historical boards to use in these agreements. The act will take effect upon becoming law.