Terrorist Release Announcements to Counter Extremist Recidivism Act or the TRACER Act (Sec. 2) This bill directs the Department of Homeland Security (DHS), in coordination with the Department of Justice, to share with state, local, and regional fusion centers through the DHS State, Local, and Regional Fusion Center Partnership Initiative, for homeland security purposes, as well as other relevant law enforcement entities, release information from a federal correctional facility, including the name, charging date, and expected place and date of release, of individuals convicted of a federal crime of terrorism. DHS, prior to sharing such information, shall receive input and advice from DHS's Officer for Civil Rights and Civil Liberties, Officer for Privacy, and Chief Intelligence Officer. A fusion center serves as a focal point within the state and local environment for the receipt, analysis, gathering, and sharing of threat-related information between the federal government and state, local, tribal, territorial, and private sector partners. DHS shall coordinate with appropriate federal officials to provide state, local, and regional fusion centers with periodic assessments regarding the overall threat from known or suspected terrorists currently incarcerated in a federal correctional facility.