Helium Act Amendments of 1979 - Amends the Helium Act to require that sales of helium by the Secretary of the Treasury be at prices consistent with the purposes of this Act but not below current market value. Deletes the requirements for the Department of the Interior to repay notes, equity debt, and interest accrued and unpaid on moneys borrowed to purchase helium.

Eliminates the Helium Fund which was credited with the moneys from the sale of helium or other products resulting from helium operations.

Authorizes and directs the Secretary of the Treasury to cancel the outstanding balance of all unpaid notes issued to the Secretary of the Interior, together with interest accrued and unpaid on such notes, and to cancel the outstanding balance on the net capital and retained earnings debt of the helium production fund together with interest accrued and unpaid. Provides that any unobligated cash balances remaining on the effective date of this Act and any moneys received thereafter shall be covered into the Treasury as miscellaneous receipts.

Eliminates the Secretary of the Interior's borrowing authority established under the Helium Act.