Sec. 2. Sale of crude helium
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/bill/116/hr/9019/ih/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 6 of the Helium Act ( 50 U.S.C. 167d ) is amended— in subsection (d)— in paragraph (3), by striking
(e)and inserting
(f); in paragraph (4), by striking
(e)and inserting
(f); and by adding at the end the following: The Secretary may not sell the Federal Helium Reserve unless the purchaser agrees to be subject to the same requirements as the Secretary under subsection (e), except that such requirements shall not terminate until the end of the 8 year period described in subsection (e)(1). ; by redesignating subsections
(e)and
(f)as subsections
(f)and
(g)respectively; and by inserting the following after subsection (d): Except as provided in paragraph (3), during the 8 year period beginning on the earlier of September 30, 2022 or the date on which the Secretary ends sales of helium under subsection (c), the Secretary shall offer crude helium for sale to holders of a Federal research grant in quantities not to exceed 30 million cubic feet of crude helium annually, at such times and under such terms and conditions as the Secretary determines appropriate. During the one year period beginning on the date of the first sale of helium under paragraph (1), the price of helium sold under such paragraph shall be 5 percent higher than the price of the most recent sale of helium under subsection (c). The Secretary shall increase the price of helium offered under this paragraph by 5 percent in each subsequent year in which sales occur under this subsection. The requirements of this subsection shall not apply to the Secretary beginning on the date that a purchaser of the Federal Helium Reserve that has agreed to be subject to the requirements of this subsection assumes control of such Federal Helium Reserve. . Section 3(c) of the Helium Act ( 50 U.S.C. 167a(c) ) is amended by striking 6(e) and inserting 6(f) .
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