S. 1354 — Tennessee Valley Authority Salary Transparency Act

This section revises financial reporting requirements for the Tennessee Valley Authority (TVA) under Section 9 of the TVA Act of 1933 (16 U.S.C. 831h) by (1) replacing the prior requirement for an annual financial statement, power station cost itemization, total employee count, and names/salaries/duties of employees paid over $1,500 with a report listing only management-level employees (including executives and board members) paid at or above the maximum GS-15 basic pay rate, including their names, salaries, and duties; and (2) exempting such salary information from disclosure under FOIA (5 U.S.C. 552(b)(3)) and the Access to Congressionally Mandated Reports Act (P.L. 117-263). It also makes technical updates to TVA procurement bidding and audit provisions, including modernizing references to the Government Accountability Office (GAO) and related statutes (to 31 U.S.C. §§3526(a), 3702(a) from prior law). As a conforming change, the section strikes from Section 14 of the TVA Act (16 U.S.C. 831m) a cross-reference to the eliminated power cost statement and related reporting for power sales.