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§ 167d. Sale of helium

Version history — every release point where this text changed

Release point 113-31 · current through 08/09/2013

§ 167d.

Sale of helium

(a)

Purchase by Government agencies

The Department of Defense, the Atomic Energy Commission, and other agencies of the Federal Government, to the extent that supplies are readily available, shall purchase all major requirements of helium from persons who have entered into enforceable contracts to purchase an equivalent amount of crude helium from the Secretary.

(b)

Sales by Secretary

The Secretary is authorized to sell crude helium for Federal, medical, scientific, and commercial uses in such quantities and under such terms and conditions as he determines. Except as may be required by reason of subsection (a) of this section, sales of crude helium under this section shall be in amounts as the Secretary determines, in consultation with the helium industry, necessary to carry out this subsection with minimum market disruption.

(c)

Prices and determinations; repayable amounts

Sales of crude helium by the Secretary shall be at prices established by him which shall be adequate to cover all costs incurred in carrying out the provisions of this chapter and to repay to the United States by deposit in the Treasury, all funds required to be repaid to the United States as of

October 1, 1995
under this section (referred to in this subsection as “repayable amounts”). The price at which crude helium is sold by the Secretary shall not be less than the amount determined by the Secretary by—

(1)

dividing the outstanding amount of such repayable amounts by the volume (in million cubic feet) of crude helium owned by the United States and stored in the Bureau of Mines Cliffside Field at the time of the sale concerned, and

(2)

adjusting the amount determined under paragraph (1) by the Consumer Price Index for years beginning after

December 31, 1995
.

(d)

Extraction of helium from deposits on Federal lands

All moneys received by the Secretary from the sale or disposition of helium on Federal lands shall be paid to the Treasury and credited against the amounts required to be repaid to the Treasury under subsection (c) of this section.

(e)

Helium production fund

(1)

All moneys received under this chapter, including moneys from sale of helium or other products resulting from helium operations and from the sale of excess property shall be credited to the helium production fund, which shall be available without fiscal year limitation, for carrying out the provisions of this chapter, including any research relating to helium carried out by the Department of the Interior. Amounts accumulating in said fund in excess of amounts the Secretary deems necessary to carry out this chapter and contracts negotiated hereunder shall be paid to the Treasury and credited against the amounts required to be repaid to the Treasury under subsection (c) of this section.

(2)
(A)

Within 7 days after the commencement of each fiscal year after the disposal of the facilities referred to in section 167b(c) of this title, all amounts in such fund in excess of $2,000,000 (or such lesser sum as the Secretary deems necessary to carry out this chapter during such fiscal year) shall be paid to the Treasury and credited as provided in paragraph (1).

(B)

On repayment of all amounts referred to in subsection (c) of this section, the fund established under this section shall be terminated and all moneys received under this chapter shall be deposited in the general fund of the Treasury.

Source (Mar. 3, 1925, ch. 426, § 6, as added Pub. L. 86–777, § 2,
Sept. 13, 1960
, 74 Stat. 921; amended Pub. L. 104–273, § 4,
Oct. 9, 1996
, 110 Stat. 3317.)
Notes

Amendments

1996—Subsec. (a). Pub. L. 104–273, § 4(a), substituted “from persons who have entered into enforceable contracts to purchase an equivalent amount of crude helium from the Secretary” for “from the Secretary”.
Subsec. (b). Pub. L. 104–273, § 4(b), inserted “crude” before “helium” and inserted at end “Except as may be required by reason of subsection (a) of this section, sales of crude helium under this section shall be in amounts as the Secretary determines, in consultation with the helium industry, necessary to carry out this subsection with minimum market disruption.”
Subsec. (c). Pub. L. 104–273, § 4(c)(2), which directed the amendment of subsec. (c) by substituting “all funds required to be repaid to the United States as of
October 1, 1995
under this section (referred to in this subsection as ‘repayable amounts’). The price at which crude helium is sold by the Secretary shall not be less than the amount determined by the Secretary by—” and pars. (1) and (2) for “together with interest as provided in this subsection” and all that followed through the end of the subsec., was executed by making the substitution for language which read “together with interest as provided in subsection (d) of this section, the following:” along with former pars. (1) to (3), to reflect the probable intent of Congress. Prior to amendment, pars. (1) to (3) read as follows:
“(1) Within twenty-five years from
September 13, 1960
, the net capital and retained earnings of the helium production fund (established under section 164 of this title prior to amendment by the Helium Act Amendments of 1960), determined by the Secretary as of
September 13, 1960
, plus any moneys expended thereafter by the Department of the Interior from funds provided in the Supplemental Appropriation Act, 1959, for construction of a helium plant at Keyes, Oklahoma;
“(2) Within twenty-five years from the date of borrowing, all funds borrowed, as provided in section 167j of this chapter, to acquire and construct helium plants and facilities; and
“(3) Within twenty-five years from
September 13, 1960
, unless the Secretary determines that said period should be extended for not more than ten years, all funds borrowed, as provided in section 167j of this title for all purposes other than those specified in clause (2) above.”
Pub. L. 104–273, § 4(c)(1), inserted “crude” after “Sales of”.
Subsec. (d). Pub. L. 104–273, § 4(d), inserted heading and amended text generally. Prior to amendment, text read as follows: “Compound interest on the amounts specified in clauses (1), (2), and (3) of subsection (c) of this section which have not been paid to the Treasury shall be calculated annually at rates determined by the Secretary of the Treasury taking into consideration the current average market yields of outstanding marketable obligations of the United States having maturities comparable to the investments authorized by this chapter, except that the interest rate on the amounts specified in clause (1) of subsection (c) of this section shall be determined as of
Sept. 13, 1960
, and the interest rate on the obligations specified in clauses (2) and (3) of subsection (c) of this section as of the time of each borrowing.”
Subsecs. (e), (f). Pub. L. 104–273, § 4(e), (f), redesignated subsec. (f) as (e)(1), added par. (2), and struck out former subsec. (e) which read as follows: “Helium shall be sold for medical purposes at prices which will permit its general use therefor; and all sales of helium to non-Federal purchasers shall be upon condition that the Federal Government shall have a right to repurchase helium so sold that has not been lost or dissipated, when needed for Government use, under terms and at prices established by regulations.”

Transfer of Functions

Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of Title 42, The Public Health and Welfare. See also Transfer of Functions notes set out under those sections.

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