T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX)
Ticker Symbol:
PRMDX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  February
Morningstar Category  Muni Single State Short
Inception Date 01/29/1993
Tax ID 52-1808148
Investment Objective
The fund provides the highest level of income exempt from federal and Maryland state and local income taxes, consistent with modest fluctuation in principal value.
Strategy
Invests at least 80% of net assets in Maryland municipal bonds. The fundís weighted average maturity will not exceed three years, but there is no maturity limit on individual securities.
Investor Profile
Maryland taxpayers who, because of their tax bracket, can benefit from income that is exempt from federal and Maryland state and local income taxes. Not appropriate for tax-deferred retirement plans, such as IRAs. Some income may be subject to the federal alternative minimum tax. Income earned by non-Maryland residents will be subject to applicable state and local taxes.
Availability
DC, DE, FL, HI, IL, MD, NJ, PA, VA, VT, WV, WY
Risk/Reward Potential*
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Higher
Moderate
Lower
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The fund offers Maryland investors triple-tax-free income. The fund's focus on short-term securities should keep price fluctuations modest, while offering higher yields and price fluctuation than municipal money market funds and less potential share price fluctuation and lower yields than the T. Rowe Price Maryland Tax-Free Bond Fund.

Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also a chance that some of the fund's holdings may have their credit rating downgraded or may default. The fund is less diversified than one investing nationally.
*Funds are placed in general risk/return categories based on their past performance or, for newer funds, the performance of the types of securities in which they invest. There is no assurance past trends will continue.
See Glossary for additional details on all data elements.