Puerto Rico-Related Portfolio Holdings for Franklin Tax-Free Income Funds as of May 31, 2017
Complete portfolio data can be found in the semi- and annual financial statements of each fund.
Franklin Federal Tax-Free Income Fund
Total
%MV1
Total Puerto Rico Exposure:
0.85
0.00
0.00
0.85
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO PUB BLDGS AUTH REV GTD
Credit
Puerto Rico Sales Tax
Puerto Rico Electric Power Authority
Puerto Rico
0.55
0.19
0.10
Franklin Federal Intermediate-Term Tax-Free Income Fund
Total Puerto Rico Exposure:
0.24
0.00
0.24
0.00
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
Credit
Puerto Rico Electric Power Authority
0.24
Franklin Federal Limited-Term Tax-Free Income Fund
0.00
0.00
0.00
0.00
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
Franklin High Yield Tax-Free Income Fund
3.67
0.00
0.05
3.62
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO SALES TAX FING CORP
PUERTO RICO INDL TOURIST EDL MED & ENVIRONMENTAL
CHILDRENS TR FD PR TOB SETTLEMENT REV
PUERTO RICO INDL TOURIST EDL MED & ENVIRONMENTAL
PUERTO RICO INDL TOURIST EDL MED & ENVIRONMENTAL
PUERTO RICO PUB BLDGS AUTH REV GTD
PUERTO RICO INDL TOURIST EDL MED & ENVIRONMENTAL
PUERTO RICO COMWLTH GO PUERTO RICO COMWLTH GO
PUERTO RICO HSG FIN AUTH
PUERTO RICO PUB FIN CORP
Credit
Puerto Rico Electric Power Authority
Puerto Rico Sales Tax
AES Puerto Rico LP
Puerto Rico Tobacco Settlement - Children's Trust
Sistema Universitario Ana G Mendez Inc
Auxilio Mutuo Hospital
Puerto Rico
Universidad Interamericana de Puerto Rico Inc & Sub
Puerto Rico
Puerto Rico Housing Finance Authority : Capital Fund Program Bonds
Puerto Rico
2.28
0.51
0.24
0.21
0.11
0.10
0.06
0.05
0.04
0.04
0.03
Franklin Alabama Tax-Free Income Fund
Total Puerto Rico Exposure:
1.36
0.00
0.00
1.36
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
Credit
PUERTO RICO SALES TAX FING CORP
Puerto Rico Sales Tax
1.36
Franklin Arizona Tax-Free Income Fund
Total Puerto Rico Exposure:
0.64
0.00
0.00
0.64
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
Credit
0.64
Puerto Rico Sales Tax
Franklin California Tax-Free Income Fund
Total Puerto Rico Exposure:
2.42
0.00
0.29
2.13
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO COMWLTH GO PUERTO RICO COMWLTH GO
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO PUB BLDGS AUTH REV GTD
PUERTO RICO SALES TAX FING CORP
CHILDRENS TR FD PR TOB SETTLEMENT REV
PUERTO RICO INDL TOURIST EDL MED & ENVIRONMENTAL
PUERTO RICO PUB FIN CORP
PUERTO RICO INFRASTRUCTURE FING AUTH SPL TAX
Credit
Puerto Rico
Puerto Rico Electric Power Authority
Puerto Rico
Puerto Rico Sales Tax
Puerto Rico Tobacco Settlement - Children's Trust
AES Puerto Rico LP
Puerto Rico
Puerto Rico Federal Excise Tax Bonds
0.74
0.69
0.40
0.34
0.21
0.04
0.01
0.01
Franklin California Intermediate-Term Tax-Free Income Fund
Total Puerto Rico Exposure:
1.65
0.00
1.30
0.35
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO PUB BLDGS AUTH REV GTD
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Electric Power Authority
Puerto Rico
Puerto Rico Sales Tax
0.76
0.73
0.16
Franklin California High Yield Municipal Fund
Total Puerto Rico Exposure:
2.90
0.00
0.00
2.90
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO PUB BLDGS AUTH REV GTD
PUERTO RICO COMWLTH GO
PUERTO RICO INDL TOURIST EDL MED & ENVIRONMENTAL
Credit
Puerto Rico Electric Power Authority
Puerto Rico
Puerto Rico
AES Puerto Rico LP
2.00
0.44
0.24
0.22
Franklin Colorado Tax-Free Income Fund
Total Puerto Rico Exposure:
2.42
0.00
0.00
2.42
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
PUERTO RICO ELEC PWR AUTH PWR REV
Credit
Puerto Rico Sales Tax
Puerto Rico Electric Power Authority
1.33
1.09
Franklin Connecticut Tax-Free Income Fund
Total Puerto Rico Exposure:
1.84
0.00
0.00
1.84
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
Credit
1.84
Puerto Rico Sales Tax
Franklin Florida Tax-Free Income Fund
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
3.76
0.00
0.00
3.76
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO SALES TAX FING CORP
PUERTO RICO INDL TOURIST EDL MED & ENVIRONMENTAL
Credit
Puerto Rico Electric Power Authority
Puerto Rico Sales Tax
AES Puerto Rico LP
1.95
1.01
0.80
Franklin Georgia Tax-Free Income Fund
Total Puerto Rico Exposure:
1.52
0.00
0.00
1.52
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
PUERTO RICO ELEC PWR AUTH PWR REV
Credit
Puerto Rico Sales Tax
Puerto Rico Electric Power Authority
0.90
0.63
Franklin Kentucky Tax-Free Income Fund
Total Puerto Rico Exposure:
0.66
0.00
0.00
0.66
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Sales Tax
0.66
Franklin Louisiana Tax-Free Income Fund
Total Puerto Rico Exposure:
1.77
0.00
0.00
1.77
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Electric Power Authority
Puerto Rico Sales Tax
1.09
0.68
Franklin Massachusetts Tax-Free Income Fund
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
0.00
0.00
0.00
0.00
Franklin Maryland Tax-Free Income Fund
Total Puerto Rico Exposure:
3.11
0.00
0.00
3.11
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
PUERTO RICO ELEC PWR AUTH PWR REV
Credit
Puerto Rico Sales Tax
Puerto Rico Electric Power Authority
1.69
1.42
Franklin Michigan Tax-Free Income Fund
Total Puerto Rico Exposure:
1.57
0.00
0.00
1.57
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Sales Tax
1.57
Franklin Minnesota Tax-Free Income Fund
0.00
0.00
0.00
0.00
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
Franklin Missouri Tax-Free Income Fund
Total Puerto Rico Exposure:
3.20
0.00
0.00
3.20
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Electric Power Authority
Puerto Rico Sales Tax
2.22
0.98
Franklin North Carolina Tax-Free Income Fund
Total Puerto Rico Exposure:
3.33
0.00
0.00
3.33
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Electric Power Authority
Puerto Rico Sales Tax
2.08
1.24
Franklin New Jersey Tax-Free Income Fund
Total Puerto Rico Exposure:
2.69
0.00
0.00
2.69
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
PUERTO RICO ELEC PWR AUTH PWR REV
Credit
Puerto Rico Sales Tax
Puerto Rico Electric Power Authority
1.35
1.33
Franklin New York Tax-Free Income Fund
Total Puerto Rico Exposure:
1.67
0.00
0.00
1.67
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO SALES TAX FING CORP
PUERTO RICO ELEC PWR AUTH PWR REV
Credit
Puerto Rico Sales Tax
Puerto Rico Electric Power Authority
1.19
0.48
Franklin New York Intermediate-Term Tax-Free Income Fund
0.00
0.00
0.00
0.00
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
Franklin Ohio Tax-Free Income Fund
0.00
0.00
0.00
0.00
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
Franklin Oregon Tax-Free Income Fund
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
3.66
0.00
1.73
1.93
Authority
PUERTO RICO PUB BLDGS AUTH REV GTD
CHILDRENS TR FD PR TOB SETTLEMENT REV
PUERTO RICO SALES TAX FING CORP
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO COMWLTH GO
Credit
Puerto Rico
Puerto Rico Tobacco Settlement - Children's Trust
Puerto Rico Sales Tax
Puerto Rico Electric Power Authority
Puerto Rico
1.36
0.79
0.59
0.54
0.38
Franklin Pennsylvania Tax-Free Income Fund
Total Puerto Rico Exposure:
2.50
0.00
0.00
2.50
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Electric Power Authority
Puerto Rico Sales Tax
1.43
1.08
Franklin Tennessee Municipal Bond Fund
Total Puerto Rico Exposure:
2.34
0.00
0.00
2.34
Pre-Refunded:2
Insured:3
PR Credit Related:4
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Electric Power Authority
Puerto Rico Sales Tax
1.21
1.13
Franklin Virginia Tax-Free Income Fund
Total Puerto Rico Exposure:
Pre-Refunded:2
Insured:3
PR Credit Related:4
2.49
0.00
0.00
2.49
Authority
PUERTO RICO ELEC PWR AUTH PWR REV
PUERTO RICO SALES TAX FING CORP
Credit
Puerto Rico Electric Power Authority
Puerto Rico Sales Tax
1.39
1.11
1. Total market value % of Puerto Rico related holdings in relation to the
overall market value of the fund. Note: Values exclude cash from the
Total Market Value.
2. Pre-refunded assets are “pre-refunded” or escrowed to maturity by the
issuer of the bond, by setting aside in advance the amounts to be paid to
the bondholders when the bond matures.
3. Insured municipal debt obligations have interest and principal which
are guaranteed by a private insurance company.
4. Total Puerto Rico credit related debt which excludes insured and/or prerefunded securities.
Important Legal Information
• Portfolio holdings are subject to change without notice and
may not represent current or future portfolio composition. The
portfolio data is “as of” the date indicated and we disclaim any
responsibility to update the information.
• The portfolio data is for information only. It does not constitute
a recommendation or an offer for a particular security or fund, nor
should it be taken as a solicitation or a recommendation to buy or
sell securities or other investments.
Investors should carefully consider a fund's investment goals,
risks, charges and expenses before investing. To obtain a
prospectus, which contains this and other information, talk
to your financial advisor, call us at (800) DIAL BEN / 342-5236
or visit franklintempleton.com. Please carefully read a
prospectus before you invest or send money.
Franklin Templeton Distributors Inc., One Franklin Parkway, San Mateo, CA 94403.