  We develop a theory for the anomalous interlayer conductance peaks observed
in bilayer electron systems at nu=1. Our model shows the that the size of the
peak at zero bias decreases rapidly with increasing in-plane magnetic field,
but its location is unchanged. The I-V characteristic is linear at small
voltages, in agreement with experimental observations. In addition we make
quantitative predictions for how the inter-layer conductance peaks vary in
position with in-plane magnetic field at high voltages. Finally, we predict
novel bi-stable behavior at intermediate voltages.
