1995 US Code
Title 50 - WAR AND NATIONAL DEFENSE
CHAPTER 10 - HELIUM GAS
Sec. 167d - Sale of helium

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§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 the Secretary.

(b) Sales by Secretary

The Secretary is authorized to sell helium for Federal, medical, scientific, and commercial uses in such quantities and under such terms and conditions as he determines.

(c) Prices and determinations

Sales of 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, together with interest as provided in subsection (d) of this section, the following:

(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.

(d) Interest in price determinations

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.

(e) Prices of sales for medical purposes; sales to non-Federal purchasers

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.

(f) Helium production fund

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.

(Mar. 3, 1925, ch. 426, §6, as added Sept. 13, 1960, Pub. L. 86–777, §2, 74 Stat. 921.)

References in Text

Section 164 of this title, referred to in subsec. (c)(1), was omitted from the Code in the general amendment and revision of this chapter by Pub. L. 86–777, §2, Sept. 13, 1960, 74 Stat. 918.

Prior to amendment by the Helium Act Amendments of 1960, referred to in subsec. (c)(1), means prior to Mar. 1, 1961. See Effective Date of 1960 Amendment note set out under section 167 of this title.

The Supplemental Appropriation Act, 1959, referred to in subsec. (c)(1), is Pub. L. 85–766, Aug. 27, 1958, 72 Stat. 864. Provisions of the Act providing funds for the construction of a helium plant probably are those appearing under the heading “Construction” under “Bureau of Mines” at 72 Stat. 875, and are not classified to the Code. For classification of various other provisions of the Act to the Code, see Tables.

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 section 167j of this title.