H.R.873 - Helium Privatization Act of 1995104th Congress (1995-1996)
Summary: H.R.873 — 104th Congress (1995-1996)
Introduced in House (02/09/1995)
Helium Privatization Act of 1995 - Amends the Helium Act to authorize the Secretary of the Interior to: (1) enter into agreements with private parties for the recovery and disposal of helium on Federal lands; (2) grant leasehold rights to such helium; (3) store and transport crude helium; and (4) maintain and operate existing crude helium storage at the Bureau of Mines Cliffside Field.
Directs the Secretary to: (1) cease producing, refining, and marketing refined helium; and (2) dispose of all facilities, equipment, and Federal property interests relating to refined helium activities.
Requires the Secretary to impose fees for helium storage, withdrawal, or transportation services.
Prescribes guidelines for: (1) the purchase of helium by Federal agencies from certain private persons; and (2) the sale of crude helium by the Secretary. Prohibits the Secretary from making crude helium sales in amounts that will disrupt the crude helium market price. Mandates that proceeds from helium sales be paid to the Treasury.
Instructs the Secretary to eliminate helium stockpiles by a prescribed deadline. Repeals the Secretary's authority to borrow under the Helium Act.
Directs the Inspector General of the Department of the Interior to prepare certain annual financial statements for the Helium Operations of the Bureau of Mines.