TRMUX T. Rowe Price Maryland S-T Tax-Fr I Forecast, Technical & Fundamental Analysis

The investment seeks to provide the highest level of income exempt from federal and Maryland state and local income taxes consistent with modest fluctuation in principal value. The fund invests so that, under normal market conditions, at least 80% of its net assets (including any borrowings for investment purposes) are invested in bonds that pay interest exempt from federal and Maryland state and local income taxes, and at least 80% of the fund's income is expected to be exempt from federal and Maryland state and local income taxes. It is non-diversified.