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1 "SEC. 3. AUTHORITY OF SECRETARY. 



2 "(a) Extraction and Disposal of Helium on 



3 Federal Lands. — (1) The Secretary may enter into 



4 agreements with private parties for the recovery and dis- 



5 posal of hehum on Federal lands upon such terms and 



6 conditions as he deems fair, reasonable and necessary. The 



7 Secretary may grant leasehold rights to any such helium. 



8 The Secretary may not enter into any agreement by which 



9 the Secretary sells such helium other than to a private 



10 party with whom the Secretary has an agreement for re- 



11 coveiy and disposal of helium. Such agreements may be 



12 subject to such rules and regulations as may be prescribed 



13 by the Secretary. 



14 "(2) Any agreement under this subsection shall be 



15 subject to the existing rights of any affected Federal oil 



16 and gas lessee. Each such agreement (and any extension 



17 or renewal thereof) shall contain such terms and condi- 



18 tions as deemed appropriate by the Secretary. 



19 "(3) This subsection shall not in any manner affect 



20 or diminish the rights and obligations of the Secretary and 



21 private parties under agreements to dispose of helium pro- 



22 duced from Federal lands in existence at the enactment 



23 of the Public Resources Deficit Reduction Act of 1995 ex- 



24 cept to the extent that such agreements are renewed or 



25 extended after such date. 



