A bill to amend the Tennessee Valley Authority Act of 1933 to modify provisions relating to the Board of Directors of the Tennessee Valley Authority, and for other purposes.

Amends the Tennessee Valley Authority Act of 1933 to: (1) expand from 3 to 14 the membership of the Board of Directors; (2) grant permanent membership to the States of Alabama, Georgia, Kentucky, Mississippi; North Carolina, Tennessee, and Virginia; (3) set Board member compensation at a stipend of $30,000 per year, plus travel expenses; and (4) provide for a Chief Executive Officer appointed by the President, with the advice and consent of the Senate.