Franklin VA Tax Free Income A1 (Franklin Virginia Tax-Free Inco) fond

The fund invests at least 80% of its total assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax. In addition, it invests at least 80% of its total assets in securities that pay interest free from the personal income taxes, if any, of Virginia. The fund only buys municipal securities rated in one of the top four ratings categories by one or more U.S. nationally recognized rating services.