Helium Act of 1994

Helium Act of 1994 - Amends the Helium Act to authorize the Secretary of the Interior to: (1) enter into agreements with private parties for the recovery and disposal of helium on Federal lands; (2) grant leasehold rights to such helium; (3) store and transport crude helium; and (4) maintain and operate existing crude helium storage at the Bureau of Mines Cliffside Field.

Directs the Secretary to: (1) cease producing, refining, and marketing refined helium; and (2) dispose of all facilities, equipment, and Federal property interests relating to refined helium activities.

Requires the Secretary to impose fees for helium storage, withdrawal, or transportation services.

Prescribes guidelines for: (1) the purchase of helium by Federal agencies from certain private persons; and (2) the sale of crude helium by the Secretary. States that such sales shall be in amounts as determined by the Secretary, in consultation with the helium industry, to cause minimum market disruption. Mandates that proceeds from helium sales be paid to the Treasury.

Instructs the Secretary to: (1) review annually known domestic helium reserves; and (2) eliminate helium stockpiles by a prescribed deadline. Repeals the Secretary's authority to borrow under the Helium Act.