((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.