A bill to amend section 15d of the Tennessee Valley Authority Act of 1933 to increase the amount of bonds which may be issued by the Tennessee Valley Authority.

Increases from $5,000,000,000 to $15,000,000,000 the amount of bonds which may be issued by the Tennessee Valley Authority under the Tennessee Valley Authority Act.

Provides for an annual payment, rather than semi-annual payments, to the Treasury of the United States of the power proceeds in excess of those obligated by bonds or bond contracts.