((a)) ** Acquisition by Secretary**

((1)) ** In general** The Secretary may acquire, at the discretion of the Secretary and with the consent of the owner, or from an heir during probate in accordance with section 2206() of this title and at fair market value, any fractional interest in trust or restricted lands.o

((2)) ** Authority of Secretary** The Secretary shall submit the report required under concerning how the fractional interest acquisition program should be enhanced to increase the resources made available to Indian tribes and individual Indian landowners.section 2217 of this title

((3)) ** Interests held in trust** Subject to , the Secretary shall immediately hold interests acquired under this chapter in trust for the recognized tribal government that exercises jurisdiction over the land involved.section 2213 of this title

((b)) ** Requirements** In implementing subsection (a), the Secretary—

((1)) shall promote the policies provided for in section 102 of the Indian Land Consolidation Act Amendments of 2000;

((2)) may give priority to the acquisition of fractional interests representing 2 percent or less of a parcel of trust or restricted land, especially those interests that would have escheated to a tribe but for the Supreme Court’s decision in Babbitt v. Youpee (117 S  Ct. 727 (1997));

((3)) to the extent practicable—

((A)) shall consult with the tribal government that exercises jurisdiction over the land involved in determining which tracts to acquire on a reservation;

((B)) shall coordinate the acquisition activities with the acquisition program of the tribal government that exercises jurisdiction over the land involved, including a tribal land consolidation plan approved pursuant to ; and

((C)) may enter into agreements (such agreements will not be subject to the provisions of the Indian Self-Determination and Education Assistance Act of 1974 [ et seq.]) with the tribal government that exercises jurisdiction over the land involved or a subordinate entity of the tribal government to carry out some or all of the Secretary’s land acquisition program; and

((4)) shall minimize the administrative costs associated with the land acquisition program through the use of policies and procedures designed to accommodate the voluntary sale of interests under this section, notwithstanding the existence of any otherwise applicable policy, procedure, or regulation, through the elimination of duplicate—

((A)) conveyance documents;

((B)) administrative proceedings; and

((C)) transactions.

((c)) ** Sale of interest to Indian landowners**

((1)) ** Conveyance at request**

((A)) ** In general** At the request of any Indian who owns an undivided interest in a parcel of trust or restricted land, the Secretary shall convey an interest in such parcel acquired under this section to the Indian landowner—

((i)) on payment by the Indian landowner of the amount paid for the interest by the Secretary; or

((ii)) if—

((I)) the Indian referred to in this subparagraph provides assurances that the purchase price will be paid by pledging revenue from any source, including trust resources; and

((II)) the Secretary determines that the purchase price will be paid in a timely and efficient manner.

((B)) ** Limitation** With respect to a conveyance under this subsection, the Secretary shall not approve an application to terminate the trust status or remove the restrictions of such an interest unless the interest is subject to a foreclosure of a mortgage in accordance with .section 5135 of this title

((2)) ** Multiple owners** If more than one Indian owner requests an interest under paragraph (1), the Secretary shall convey the interest to the Indian owner who owns the largest percentage of the undivided interest in the parcel of trust or restricted land involved.

((3)) ** Limitation** If an Indian tribe that has jurisdiction over a parcel of trust or restricted land owns an undivided interest in a parcel of such land, such interest may only be acquired under paragraph (1) with the consent of such Indian tribe.

((d)) ** Authorization of appropriations** There is authorized to be appropriated to carry out this section $75,000,000 for fiscal year 2005, $95,000,000 for fiscal year 2006, and $145,000,000 for each of fiscal years 2007 through 2010.