The Helium Privatization Act of 1996 is a
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
statute
A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by le ...
that ordered the US government to sell much of the
National Helium Reserve
The National Helium Reserve, also known as the Federal Helium Reserve, is a strategic reserve of the United States holding over 1 billion cubic meters (109 m3) of helium gas. The helium is stored at the Cliffside Storage Facility about northwes ...
. The United States 104th Congressional session passed the
Act of Congress
An Act of Congress is a statute enacted by the United States Congress. Acts may apply only to individual entities (called Public and private bills, private laws), or to the general public (Public and private bills, public laws). For a Bill (law) ...
presenting the
legislation
Legislation is the process or result of enrolled bill, enrolling, enactment of a bill, enacting, or promulgation, promulgating laws by a legislature, parliament, or analogous Government, governing body. Before an item of legislation becomes law i ...
to the United States President on September 30, 1996. President
Bill Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and agai ...
enacted the federal statute into law on October 9, 1996.
The law was described by critics as a "fiasco" due to the formula-based sale price being significantly lower than the market price for helium. The bill was amended in 2013 to use an auction to sell helium.
References
External links
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Acts of the 104th United States Congress
Helium