Taxes, Real Property - As introduced, enacts the "Local Government Revenue Stability Act," which replaces property taxes with a statewide 4 percent surtax on the sale of goods and services to be collected in the same manner as the sales and use tax and disbursed to local governments. - Amends TCA Title 5; Title 6; Title 7; Title 49; Title 54 and Title 67.

SB 2074 replaces local property taxes with a statewide 4% sales tax surcharge on goods and services, collected like existing sales tax. It directly affects all 95 Tennessee counties, cities, school districts, and special districts by eliminating their authority to levy property taxes (except for debt service on bonds issued before 2031). The bill creates a new "Local Government Revenue Stability Tax Fund" to distribute the surcharge revenue, guaranteeing local governments the equivalent of their 2028 property tax revenues adjusted annually for economic growth. This replaces the current property tax system with a uniform statewide sales tax mechanism, effective after January 1, 2031.