Mineral Resources: H.R. 3967--A Bill to Change How Federal Needs for Refined Helium Are Met
Highlights
GAO discussed proposed legislation to prohibit the Bureau of Mines from refining and selling helium and disposing of the U.S. helium inventory. GAO noted that: (1) the proposed legislation would shift the refining of federal helium to the private sector, liquidate the helium reserve except for a small inventory, and freeze the helium program debt at the October 1, 1993 level and provide for repayment through sales revenues and storage facility rentals; (2) budgetary effects of the legislation will depend on the private sector's ability to sell refined helium to federal customers at a lower price than the Bureau and the revenues generated from the sale of the helium inventory; (3) Congress could cancel the helium program debt without affecting the federal budget; and (4) the proposed legislation provides a viable alternative for meeting federal needs for helium with the potential for budgetary savings and repayment of the helium program debt.