((a)) ** In general** The Secretary shall establish and carry out an Indian trust asset management demonstration project, in accordance with this subchapter.

((b)) ** Selection of participating Indian tribes**

((1)) ** In general** An Indian tribe shall be eligible to participate in the project if—

((A)) the Indian tribe submits to the Secretary an application under subsection (c); and

((B)) the Secretary approves the application of the Indian tribe.

((2)) ** Notice**

((A)) ** In general** The Secretary shall provide a written notice to each Indian tribe approved to participate in the project.

((B)) ** Contents** A notice under subparagraph (A) shall include—

((i)) a statement that the application of the Indian tribe has been approved by the Secretary; and

((ii)) a requirement that the Indian tribe shall submit to the Secretary a proposed Indian trust asset management plan in accordance with .

((c)) ** Application**

((1)) ** In general** To be eligible to participate in the project, an Indian tribe shall submit to the Secretary a written application in accordance with paragraph (2).

((2)) ** Requirements** The Secretary shall consider an application under this subsection only if the application—

((A)) includes a copy of a resolution or other appropriate action by the governing body of the Indian tribe, as determined by the Secretary, in support of or authorizing the application;

((B)) is received by the Secretary after ; and

((C)) states that the Indian tribe is requesting to participate in the project.

((d)) ** Duration** The project—

((1)) shall remain in effect for a period of 10 years after ; but

((2)) may be extended at the discretion of the Secretary.