
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 50USC167d]

 
                   TITLE 50--WAR AND NATIONAL DEFENSE
 
                         CHAPTER 10--HELIUM GAS
 
Sec. 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.

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


                               Amendments

    1996--Subsec. (a). Pub. L. 104-273, Sec. 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, Sec. 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, Sec. 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, Sec. 4(c)(1), inserted ``crude'' after ``Sales 
of''.
    Subsec. (d). Pub. L. 104-273, Sec. 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, Sec. 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.

                  Section Referred to in Other Sections

    This section is referred to in sections 167b, 167c, 167f of this 
title.
