To authorize the establishment of a Smithsonian Senior Service, and for other purposes.

Authorizes the Secretary of the Smithsonian, with the approval of the Board of Regents, to establish a Smithsonian Senior Service and to make appointments to such Service. Authorizes the Secretary to promulgate criteria which are consistent with the principles and characteristics of the Senior Executive Service (SES).

Authorizes the Regents to award ranks to members of the Smithsonian Senior Service consistent with provisions relating to the awarding of SES ranks.

Makes the Service subject to certain Federal employee benefit provisions.

Prohibits any reduction in an employee's rate of basic pay solely by reason of conversion to service coverage.