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103D CONGRESS

1ST SESSION H. R. 1552

To repeal the Helium Act, to require the Secretary of the Interior to sell

Federal real and personal property held in connection with activities

carried out under the Helium Act, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

MARCH 31, 1993

Mr. COX (for himself, Mr. NEAL of North Carolina, Mr. FRANK of Massachusetts, Mr. PALLONE, Mr. HOAGLAND, Mr. ROHRABACHER, Mr. GOSS, Mr.

POMBO, Mr. RAMSTAD, Mr. WOLF, Mr. INHOFE, Mr. FRANKS of New

Jersey, Mr. KYL, Mr. HEFLEY, Mr. LEWIS of Florida, Mr. BEREUTER,

Mr. INGLIS of South Carolina, Mr. FAWELL, Mr. FOWLER, Mr. ALLARD,

Mr. WALSH, Mr. ROGERS, Mr. DOOLITTLE, and Mr. BOEHNER) introduced the following bill; which was referred to the Committee on Natural

Resources

A BILL

To repeal the Helium Act, to require the Secretary of the

Interior to sell Federal real and personal property held

in connection with activities carried out under the

Helium Act, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. FINDINGS.

4 The Congress finds that—
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1 (1) the United States Government’s helium re2 covery program was instituted in 1925, when helium

3 conservation was deemed to be a matter of national

4 security and no private sector helium recovery indus5 try existed;

6 (2) today, as compared to 1925, there is little

7 likelihood that the United States will have to field a

8 fleet of blimps on an emergency basis;

9 (3) private sources of helium are more than

10 adequate for serving existing and foreseeable future

11 national needs;

12 (4) since 1925, there has been a dramatic in13 crease in private industry’s involvement in helium

14 recovery, as a result of the free market discovery of

15 numerous commercial uses for helium;

16 (5) currently, private industry accounts for 90

17 percent of all helium extraction and consumption;

18 (6) the Government’s helium recovery program

19 currently owes the Department of the Treasury

20 $1,400,000,000 and loses an additional

21 $120,000,000 yearly on interest alone, and there is

22 no prospect for repayment of this debt without sig23 nificant reform; and

24 (7) with combined public and private helium re25 serves considerably in excess of foreseeable national
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1 helium needs, there is no longer any need for the

2 Federal Government to own and operate a helium

3 extraction and reserve program.

4 SEC. 2. REPEAL.

5 The Helium Act (50 U.S.C. 161 et seq.) is repealed.

6 SEC. 3. SALE OF PROPERTY.

7 The Secretary of the Interior shall sell or otherwise

8 dispose of, at the best possible terms available to the Unit9 ed States, all facilities, equipment, and other real or per10 sonal property, or rights thereto, held by the United

11 States in connection with activities carried out under the

12 Helium Act, unless such facilities, equipment, or other real

13 or personal property, or rights thereto, are required for

14 other Federal purposes.

15 SEC. 4. SALE OF HELIUM RESERVE.

16 The Secretary of the Interior shall sell or otherwise

17 dispose of, at the best possible terms available to the Unit18 ed States, all helium reserves held by the United States

19 other than amounts required for the specific immediate

20 needs of the Federal Government. Such sale shall be con21 ducted in a manner consistent with the orderly conduct

22 of commercial helium markets.

23 SEC. 5. REDUCTION OF FEDERAL DEBT.

24 All funds received pursuant to sections 3 and 4, and

25 all amounts remaining in the helium production fund es-
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1 tablished under section 6(f) of the Helium Act, shall be

2 considered full repayment of loans made under section 12

3 of the Helium Act. Such funds shall be applied, subject

4 to appropriations, solely to the retirement of outstanding

5 United States Government debt, and may not be obligated

6 or expended for any other purpose, notwithstanding any

7 other provision of law that does not specifically reference

8 this section.

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