Company: OIA
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010545
Chunk: 52

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 52
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 affect the current federal or state tax status of Municipal Securities. For example, 2017 legislation commonly known as the Tax Cuts and Jobs Act repeals the exclusion from gross income for interest on pre-refunded municipal securities effective for such bonds issued after December 31, 2017. Taxable municipal securities are debt securities issued by or on behalf of states and their political subdivisions, the District of Columbia, and possessions of the United States, the interest on which is not exempt from federal income tax. Taxable investments include, for example, hedging instruments, repurchase agreements, and many of the types of securities the Fund would buy for temporary defensive purposes. At times, in connection with the restructuring of a municipal bond issuer either outside of bankruptcy court in a negotiated workout or in the context of bankruptcy proceedings, the Fund may determine or be required to accept equity or taxable debt securities, or the underlying collateral (which may include real estate or loans) from the issuer in exchange for all or a portion of the Fund’s holdings in the municipal security. Although the Adviser will attempt to sell those assets as soon as reasonably practicable in most cases, depending upon, among other things, the Adviser’s valuation of the potential value of such assets in relation to the price that could be obtained by the Fund at any given time upon sale thereof, the Fund may determine to hold such securities or assets in its portfolio for limited period of time in order to liquidate the assets in a manner that maximizes their value to the Fund. Municipal Securities also include, but are not limited to, the following securities:

| ● | Bond Anticipation Notes usually are general obligations of state and local governmental issuers which                                     
 are sold to obtain interim financing for projects that will eventually be funded through the sale of long-term debt obligations or bonds. |

| ● | Revenue Anticipation Debt Securities, including bonds, notes, and certificates, are issued by                                               
 governments or governmental bodies with the expectation that future revenues from a designated source will be used to repay the securities. 
 In general, they also constitute general obligations of the issuer.                                                                         |

S-5

| ● | Tax Anticipation Notes are issued by state and local governments to finance the current operations of 
 such governments. Repayment is generally to be derived from specific future tax revenues.             |

| ● | Tax-Exempt Commercial Paper (Municipal Paper) is similar to taxable commercial paper, except that tax-exempt 
 commercial paper is issued by states, municipalities and their agencies.                                     |