50 U.S.C. § 167d: Sale of crude helium

The Secretary shall offer crude helium for sale in such quantities, at such times, at not less than the minimum price established under subsection (b)(7), and under such terms and conditions as the Secretary determines necessary to carry out this subsection with minimum market disruption. Federal users may purchase refined helium with priority pipeline access under this subsection from persons who have entered into enforceable contracts to purchase an equivalent quantity of crude helium at the in-kind price from the Secretary. the period beginning on October 2, 2013 , and ending on September 30, 2014 ; and any period during which the sale of helium under subsection (b) is delayed or suspended. to maximize total recovery of helium from the Federal Helium Reserve over the long term; to maximize the total financial return to the taxpayer; to manage crude helium sales according to the ability of the Secretary to extract and produce helium from the Federal Helium Reserve; to give priority to meeting the helium demand of Federal users in the event of any disruption to the Federal Helium Reserve; and to carry out this subsection with minimum market disruption. for fiscal year 2015, 10 percent of the total volume of crude helium made available for that fiscal year; for each of fiscal years 2016 through 2019, a percentage of the total volume of crude helium that is 15 percentage points greater than the percentage made available for the previous fiscal year; and for fiscal year 2020 and each fiscal year thereafter, 100 percent of the total volume of crude helium made available for that fiscal year. Federal users may purchase refined helium with priority pipeline access under this subsection from persons who have entered into enforceable contracts to purchase an equivalent quantity of crude helium at the in-kind price from the Secretary. beginning on October 1, 2014 ; and ending on the date on which the volume of recoverable crude helium at the Federal Helium Reserve (other than privately owned quantities of crude helium stored temporarily at the Federal Helium Reserve under section 167c of this title and this section) is 3,000,000,000 standard cubic feet. to minimize market disruptions that pose a threat to the economic well-being of the United States; and only after submitting a written justification of the adjustment to the Committee on Energy and Natural Resources of the Senate and the Committee on Natural Resources of the House of Representatives; or upward, if the Secretary determines the adjustment necessary to increase participation in crude helium auctions or returns to the taxpayer. The Secretary shall conduct each auction using a method that maximizes revenue to the Federal Government. The sale price of crude helium in auctions held by the Secretary under paragraph (2). Price recommendations and disaggregated data from a qualified, independent third party who has no conflict of interest, who shall conduct a confidential survey of qualifying domestic helium transactions. The volume-weighted average price of all crude helium and pure helium purchased, sold, or processed by persons in all qualifying domestic helium transactions. The volume-weighted average cost of converting gaseous crude helium into pure helium. the volumes and associated prices in dollars per thousand cubic feet of all crude and pure helium purchased, sold, or processed by persons in qualifying domestic helium transactions; the volumes and associated costs in dollars per thousand cubic feet of converting crude helium into pure helium; and refinery capacity and future capacity estimates. any person prevailing in auctions under paragraph (2); and any person that has acquired crude helium from the Secretary from the Federal Helium Reserve by means other than an auction under paragraph (2) after October 2, 2013 , including nonallocated sales. to approximate crude helium prices; and to ensure the recovery of fair value for the taxpayers of the United States from sales of crude helium. The Secretary shall adopt such administrative policies and procedures as the Secretary considers necessary and reasonable to ensure the confidentiality of information submitted pursuant to this chapter. not cause a disruption in the supply of helium from the Reserve; represent a cost-effective action; generate greater returns for taxpayers; and increase the effectiveness of price discovery. not cause a disruption in the supply of helium from the Reserve; represent a cost-effective action; generate greater returns for taxpayers; and increase the effectiveness of price discovery. Notwithstanding paragraph (4)(A), the Secretary shall hold a one-time sale of helium, no later than August 1, 2014 from amounts available in fiscal year 2016 pursuant to this section. Full and final payment for the sale must be made no later than 45 days after the date the sale takes place. shall be at least 250 million cubic feet; and shall be made available for sale consistent with paragraph (2)(B). The Secretary shall offer crude helium for sale to Federal users in such quantities, at such times, at such prices required to reimburse the Secretary for the full costs of the sales, and under such terms and conditions as the Secretary determines necessary to carry out this subsection. Federal users may purchase refined helium with priority pipeline access under this subsection from persons who have entered into enforceable contracts to purchase an equivalent quantity of crude helium at the in-kind price from the Secretary. This subsection applies beginning on the day after the date described in subsection (b)(4)(B). Not earlier than 2 years after the date of commencement of Phase C described in subsection (c) and not later than September 30, 2021 , the Secretary shall designate as excess property and dispose of all facilities, equipment, and other real and personal property, and all interests in the same, held by the United States in the Federal Helium System. The disposal of the property described in paragraph (1) shall be in accordance with subtitle I of title 40. All proceeds accruing to the United States by reason of the sale or other disposal of the property described in paragraph (1) shall be treated as funds received under this chapter for purposes of subsection (e). All costs associated with the sale and disposal (including costs associated with termination of personnel) and with the cessation of activities under this subsection shall be paid from amounts available in the Helium Production Fund established under subsection (e). well head maintenance at the Cliffside Field; capital investments in maintenance and upgrades of facilities that pressurize the Cliffside Field; capital investments in maintenance and upgrades of equipment related to the storage, withdrawal, enrichment, transportation, purification, and sale of crude helium from the Federal Helium Reserve; entering into purchase, lease, or other agreements to drill new or uncap existing wells to maximize the recovery of crude helium from the Federal Helium System; and any other scheduled or unscheduled maintenance of the Federal Helium System. Amounts in the Helium Production Fund in excess of amounts the Secretary determines to be necessary to carry out paragraph (1) shall be paid to the general fund of the Treasury and used to reduce the annual Federal budget deficit. Out of amounts paid to the general fund of the Treasury under paragraph (2), the Secretary of the Treasury shall use $51,000,000 to retire public debt. Not later than 1 year after October 2, 2013 , and annually thereafter, the Secretary of the Interior shall submit to the Committee on Energy and Natural Resources of the Senate and the Committee on Natural Resources of the House of Representatives a report describing all expenditures by the Bureau of Land Management to carry out this chapter. the quantity of crude helium offered for sale by the Secretary during fiscal year 2012; or the maximum total production capacity of the Federal Helium System.