II

103D CONGRESS

1ST SESSION S. 1376

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 SENATE OF THE UNITED STATES

AUGUST 5 (legislative day, JUNE 30), 1993

Mr. WOFFORD introduced the following bill; which was read twice and referred

to the Committee on Energy and 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—

5 (1) the United States Government’s helium re6 covery program was instituted in 1925, when helium

7 conservation was deemed to be a matter of national
2

S 1376 IS

1 security and no private sector helium recovery indus2 try existed;

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

4 likelihood that the United States will have to field a

5 fleet of blimps on an emergency basis;

6 (3) private sources of helium are more than

7 adequate for serving existing and foreseeable future

8 national needs;

9 (4) since 1925, there has been a dramatic in10 crease in private industry’s involvement in helium

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

12 numerous commercial uses for helium;

13 (5) currently, private industry accounts for 90

14 percent of all helium extraction and consumption;

15 (6) the Government’s helium recovery program

16 currently owes the Department of the Treasury

17 $1,400,000,000 and loses an additional

18 $120,000,000 yearly on interest alone, and there is

19 no prospect for repayment of this debt without sig20 nificant reform; and

21 (7) with combined public and private helium re22 serves considerably in excess of foreseeable national

23 helium needs, there is no longer any need for the

24 Federal Government to own and operate a helium

25 extraction and reserve program.
3

S 1376 IS

1 SEC. 2. REPEAL.

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 is repealed.

3 SEC. 3. SALE OF PROPERTY.

4 The Secretary of the Interior shall sell or otherwise

5 dispose of, at the best possible terms available to the Unit6 ed States, all facilities, equipment, and other real or per7 sonal property, or rights thereto, held by the United

8 States in connection with activities carried out under the

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

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

11 other Federal purposes.

12 SEC. 4. SALE OF HELIUM RESERVE.

13 The Secretary of the Interior shall sell or otherwise

14 dispose of, at the best possible terms available to the Unit15 ed States, all helium reserves held by the United States

16 other than amounts required for the specific immediate

17 needs of the Federal Government. Such sale shall be con18 ducted in a manner consistent with the orderly conduct

19 of commercial helium markets.

20 SEC. 5. REDUCTION OF FEDERAL DEBT.

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

22 all amounts remaining in the helium production fund es23 tablished under section 6(f) of the Helium Act, shall be

24 considered full repayment of loans made under section 12

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

26 to appropriations, solely to the retirement of outstanding
4

S 1376 IS

1 United States Government debt, and may not be obligated

2 or expended for any other purpose, notwithstanding any

3 other provision of law that does not specifically reference

4 this section.

Æ