"I am very excited," Tracy said, "with the progress that is being made to fund education. This is a great thing for every Tennessee family.
"I never dreamed when I was campaigning and elected in 2004 that the funding could happen so quickly. It's a good feeling to know that improvements, significant steps forward, are being made so soon."
The BEP 2.0 proposal would be funded by a 40-cent tobacco tax, eliminating the need for individual counties to raise property or sale taxes. Bredesen outlined the $475 million plan, explaining the program would receive half its funding this year and the remainder being implemented as the state finances allow.
"This is a two-way street with our school system," Bredesen said. "This is a contract with them. We'll make sure that they (the counties) have the money they need to educate our children, but it doesn't stop there. The counties will be accountable for the results."
Tracy agreed the accountability of the counties would be imperative to the program's success.
"The state doesn't have any particular requirements for the actual use of the money but the state is going to put definite accountability measures in the plan that will be measured through testing.
"This is a wonderful opportunity for high-risk children as well as the English Language Learners (ELL) programs. School districts across the state can develop programs they would not have been able to do without this measure."
The BEP 2.0 redesigns the way Tennessee allocates money to school systems. The formula would be based on the county's amount of assessed property and sales tax revenue to determine ability to pay into the education program.
Tracy said the county, who according to the proposed plan would contribute only a small portion of the funding from its intake of property and sale tax venues, should be in good standing.
"I can't foresee any problem for Bedford County," he said, "in meeting these requirements. I think we'll see a beginning ratio of 71 percent of state funding and 29 percent county funding. This will make a significant difference in the current funding program."
Bredesen announced Thursday the maximum limit required would be 25 percent on the county level.
Teachers, according to Tracy, will also be on the receiving end of the benefits.
"Improvement of teachers' salaries will definitely be something to be expected," Tracy said. "This also goes hand-in-hand with the at-risk child benefit. It takes more money to educate a child that is at risk and this program will allow for that accountability.
"I am just very excited about this development. It is definitely a boost for Bedford County and every resident should be truly relieved with this proposal. It is a great boost to the education system."
