[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1857 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1857

 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.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 26, 1993

 Mr. Inglis of South Carolina introduced the following bill; which was 
             referred to the Committee on Natural Resources

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                                 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.

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

SECTION 1. REPEAL.

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 is repealed.

SEC. 2. SALE OF PROPERTY.

    The Secretary of the Interior shall sell or otherwise dispose of, 
at the best possible terms available to the United States, all 
facilities, equipment, and other real or personal property, or rights 
thereto, held by the United States in connection with activities 
carried out under the Helium Act, unless such facilities, equipment, or 
other real or personal property, or rights thereto, are required for 
other Federal purposes.

SEC. 3. SALE OF HELIUM RESERVE.

    The Secretary of the Interior shall sell or otherwise dispose of, 
at the best possible terms available to the United States, all helium 
reserves held by the United States other than amounts required for the 
specific immediate needs of the Federal Government. Such sale shall be 
conducted in a manner consistent with the orderly conduct of commercial 
helium markets.

SEC. 4. REDUCTION OF FEDERAL DEBT.

    All funds received pursuant to sections 3 and 4, and all amounts 
remaining in the helium production fund established under section 6(f) 
of the Helium Act, shall be considered full repayment of loans made 
under section 12 of the Helium Act. Such funds shall be applied, 
subject to appropriations, solely to the retirement of outstanding 
United States Government debt, and may not be obligated or expended for 
any other purpose, notwithstanding any other provision of law that does 
not specifically reference this section.

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