; or (II) that results in an industry-recognized credential that meets the requirements for licensing in the relevant field; and (B) in the case of a program leading to a certificate or degree, receipt of the certificate or degree. (b) Approval of innovation authorizers (1) In general The Secretary shall establish a process for approving innovation authorizers to carry out the authorization of eligible entities. (2) Request for applications Not later than 275 days after the date of enactment of this subpart, the Secretary shall publish a request for applications from entities that desire to become innovation authorizers. Any accrediting agency or association currently recognized by the Secretary or any entity not currently recognized by the Secretary may apply to be approved as innovation authorizers. (3) Application Requirements An entity that desires to be approved by the Secretary as an innovation authorizer under paragraph (1) shall submit an application to the Secretary that includes the following information: (A) Information on the entity's prior experience as an authorizer, accreditor, programmatic accreditor, or industry validator, or strong evidence and history that demonstrates the entity is equipped to be a high-quality authorizer. (B) An explanation of why the entity is qualified and capable of being an innovation authorizer, accompanied by supporting documentation. (C) Evidence that the entity is financially able to meet the requirements for authorizing eligible entities, including the requirements under paragraph (7). (D) A description of the process that the entity will use for awarding authorization, and suspending or revoking an eligible entity's authorization, including— (i) the performance metrics the authorizer will use in making determinations about authorization, which shall meet the requirements described under subsection (d)