98 



31 



1 "SEC. 8. ELIMINATION OF STOCKPILE. 



2 "(a) Review of Reserves. — The Secretary shall re- 



3 view annually the known helium reserves in the United 



4 States and make a determination as to the expected life 



5 of the domestic helium reserves (other than federally 



6 owned helium stored at the Chffside Reservoir) at that 



7 time. 



8 "(b) Sales.— Not later than January 1, 2005, the 



9 Secretary shall commence making sales of crude helium 



10 from helium reserves owned by the United States in such 



1 1 amounts as may be necessary to dispose of all such helium 



12 reserves in excess of 600 million cubic feet (mcf) by Janu- 



13 ary 1, 2015. The sales shall be at such times and in such 



14 lots as the Secretary determines, in consultation with the 



15 helium industry, to be necessary to carry out this sub- 



16 section with minimum market disruption. The price for 



17 all such sales, as determined by the Secretary in consulta- 



18 tion with the helium industry, shall be such as will ensure 



19 repayment of the amounts required to be repaid to the 



20 Treasury under section 6(c). 



21 "(e) Discovery of Additional Reserves. — The 



22 discovery of additional helium reserves shall not affect the 



23 duty of the Secretary to make sales of helium as provided 



24 in subsection (b), as the case may be.". 



25 SEC. 305. REPEAL OF AUTHORITY TO BORROW. 



26 Sections 12 and 15 are repealed. 



