# EDGAR Filing Document

**Accession Number:** 0000798737
**File Stem:** 0001193125-25-220346
**Filing Date:** 2025-9
**Character Count:** 23941
**Document Hash:** 719ec30c478e91f33f36ca94fecd0646
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-220346.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001193125-25-220346

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**EFFECTIVENESS DATE**: 20250926

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AB MUNICIPAL INCOME FUND, INC.
- **CENTRAL INDEX KEY:** 0000798737

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-07812
- **FILM NUMBER:** 251349900

**BUSINESS ADDRESS:**
- **STREET 1:** ALLIANCEBERNSTEIN LP
- **STREET 2:** 66 HUDSON BOULEVARD EAST, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 2129691000

**MAIL ADDRESS:**
- **STREET 1:** ALLIANCEBERNSTEIN LP
- **STREET 2:** 66 HUDSON BOULEVARD EAST, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLIANCEBERNSTEIN MUNICIPAL INCOME FUND INC
- **DATE OF NAME CHANGE:** 20030319

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLIANCE MUNICIPAL INCOME FUND INC/NY/
- **DATE OF NAME CHANGE:** 20010629

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLIANCE MUNICIPAL INCOME FUND INC/NY
- **DATE OF NAME CHANGE:** 20010629

## Series and Classes Contracts Data

### AB New York Portfolio (Series ID: S000010352)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000028631 | Class A       | ALNYX           |
| C000028633 | Class C       | ANYCX           |
| C000069626 | Advisor Class | ALNVX           |

---

| | |
|:---|:---|
| ![LOGO](g926771g67z55.jpg) | SUMMARY PROSPECTUS September 30, 2025 |

---

## AB New York Portfolio
**Ticker:** Class A–ALNYX; Class C–ANYCX; Advisor Class–ALNVX

Before you invest, you may want to review the Portfolio's Prospectus, which contains more information about the Portfolio and its risks. The Portfolio's Prospectus and Statement of Additional Information ("SAI"), both dated September 30, 2025, as may be amended or supplemented, are incorporated by reference into this Summary Prospectus. For free paper or electronic copies of the Portfolio's Prospectus, reports to shareholders and other information about the Portfolio, go to <u>www.abfunds.com/go/prospectus</u>, email a request to prorequest@alliancebernstein.com, call (800) 227-4618, or ask any financial advisor, bank, or broker-dealer who offers shares of the Portfolio.

**PRO-0116-MNY-0925** 

**INVESTMENT OBJECTIVE:** 

The investment objective of the Portfolio is to earn the highest level of current income exempt from both federal income tax and New York State and City income tax that is available without assuming what the Adviser considers to be undue risk to principal or income.

**FEES AND EXPENSES OF THE PORTFOLIO:** 

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Portfolio. **You may be required to pay commissions and/or other forms of compensation to a broker for transactions in Advisor Class shares, which are not reflected in the tables or the examples below.** You may qualify for sales charge reductions if you and members of your family invest, or agree to invest in the future, at least $100,000 in AB Mutual Funds. More information about these and other discounts is available from your financial intermediary and in Investing in the Portfolios—Sales Charge Reduction Programs for Class A Shares on page 47 of the Portfolio's Prospectus, in Appendix B—Financial Intermediary Waivers of the Portfolio's Prospectus and in Purchase of Shares—Sales Charge Reduction Programs for Class A Shares on page 124 of the Portfolio's SAI.

**Shareholder Fees** (fees paid directly from your investment)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A**<br> **Shares** | **Class C**<br> **Shares** | **Advisor Class**<br> **Shares** |
|  Maximum Sales Charge (Load) Imposed on Purchases<br> (as a percentage of offering price) | 3.00% |  |  |
|  Maximum Deferred Sales Charge (Load)<br> (as a percentage of offering price or redemption proceeds, whichever is lower) |  | 1.00%(a) |  |
|  Exchange Fee |  |  |  |

---

**Annual Portfolio Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A** | **Class C** | **Advisor Class** |
|  Management Fees | .45% | .45% | .45% |
|  Distribution and/or Service (12b-1) Fees | .25% | 1.00% |  |
|  Other Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfer Agent | .03% | .03% | .03% |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest Expense | .01% | .01% | .01% |
| &nbsp;&nbsp;&nbsp;&nbsp; Other Expenses(b) | .09% | .09% | .09% |
|  Total Other Expenses | .13% | .13% | .13% |
|  Total Annual Portfolio Operating Expenses Before Waiver | .83% | 1.58% | .58% |
|  Fee Waiver and/or Expense Reimbursement(c) | (.07)% | (.07)% | (.07)% |
|  Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement(d) | .76% | 1.51% | .51% |

---

(a) For Class C shares, the contingent deferred sales charge, or CDSC, is 0% after the first year. Class C shares
automatically convert to Class A shares after eight years.

------

(b) "Other Expenses" includes acquired fund fees and expenses totaling less than .01%.

(c) The Adviser has contractually agreed to waive its management fees and/or to bear certain expenses of the Portfolio to the
extent necessary to prevent total Portfolio operating expenses (excluding acquired fund fees and expenses other than the advisory fees of any AB Funds in which the Portfolio may invest, interest expense, and extraordinary expenses), on an annualized
basis, from exceeding .75%, 1.50% and .50% of average daily net assets, respectively, for Class A, Class C and Advisor Class shares. In addition to that agreement, in connection with the Portfolio's investments in AB Government Money
Market Portfolio (the "Money Market Portfolio") (except for the investment of any cash collateral from securities lending), the Adviser has contractually agreed to waive its management fee from the Portfolio and/or reimburse other
expenses of the Portfolio in an amount equal to the Portfolio's pro rata share of the Money Market Portfolio's effective management fee. Each of the agreements will remain in effect until September 30, 2026 and may only be
terminated or changed with the consent of the Portfolio's Board of Directors. In addition, each agreement will be automatically extended for one-year terms unless the Adviser provides notice of termination to the Portfolio at least 60 days
prior to the end of the period.

(d) If interest expense were excluded, Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement
would be as follows:

---

| | | |
|:---|:---|:---|
| **Class A** | **Class C** | **Advisor Class** |
| .75% | 1.50% | .50% |

---

**Examples** 

The Examples are intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds. The Examples assume that you invest $10,000 in the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The Examples also assume that your investment has a 5% return each year, that the Portfolio's operating expenses stay the same and that any fee waiver and/or expense limitation remains in effect for only the first year. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| | **Class A** | **Class C** | **Advisor Class** |
| After 1 Year | $375 | $254 \* | $52 |
| After 3 Years | $550 | $492 | $179 |
| After 5 Years | $740 | $854 | $317 |
| After 10 Years | $1288 | $1671 | $719 |

---

\* If you did not redeem your shares at the end of the period, your expenses would be decreased by approximately $100. 

**Portfolio Turnover** 

The Portfolio pays transaction costs, such as commissions, when it buys or sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Portfolio shares are held in a taxable account. These transaction costs, which are not reflected in the Annual Portfolio Operating Expenses or in the Examples, affect the Portfolio's performance. During the most recent fiscal year, the Portfolio's portfolio turnover rate was 33% of the average value of its portfolio.

**PRINCIPAL STRATEGIES:** 

The Portfolio pursues its objective by investing principally in high-yielding, predominantly investment grade municipal securities. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax. These securities may pay interest that is subject to the federal alternative minimum tax for certain taxpayers. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities of New York or municipal securities with interest that is otherwise exempt from New York state income tax.

The Adviser selects securities for purchase or sale based on its assessment of the securities' risk and return characteristics as well as the securities' impact on the overall risk and return characteristics of the Portfolio. In making this assessment, the Adviser takes into account various factors including the credit quality and sensitivity to interest rates of the securities under consideration and of the Portfolio's other holdings.

The Portfolio may also invest in:

• forward commitments;

• tender option bonds;

• zero-coupon municipal securities and variable, floating and inverse floating-rate municipal securities;

• certain types of mortgage-related securities; and

• derivatives, such as options, futures contracts, forwards and swaps.

**PRINCIPAL RISKS:** 

• **Market Risk:** The value of the Portfolio's assets will fluctuate as the market or markets in which
the Portfolio invests fluctuate. The value of the Portfolio's investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events, including public health crises (including the occurrence of a
contagious disease or illness), terrorism, war, changing interest rate levels, imposition of new or additional tariffs, and regional and global conflicts, that affect large portions of the market.

------

• **Interest Rate Risk:** Changes in interest rates will affect the value of investments in fixed-income
securities. When interest rates rise, the value of existing investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for
fixed-income securities with longer maturities or durations. Changing interest rates may have unpredictable effects on the markets, may result in heightened market volatility and may detract from Portfolio performance. In addition, changes in
monetary policy may exacerbate the risks associated with changing interest rates.

• **Duration Risk:** Duration is a measure that relates the expected price volatility of a fixed-income security
to changes in interest rates. The duration of a fixed-income security may be shorter than or equal to the full maturity of a fixed-income security. Fixed-income securities with longer durations have more risk and will decrease in price as interest
rates rise.

• **Municipal Market Risk:** This is the risk that special factors may adversely affect the value of municipal
securities and have a significant effect on the yield or value of the Portfolio's investments in municipal securities. These factors include economic conditions, political or legislative changes, public health crises, uncertainties related to
the tax status of municipal securities, and the rights of investors in these securities. To the extent that the Portfolio invests more of its assets in the municipal securities of a particular state or territory, the Portfolio may be vulnerable to
events adversely affecting that state or territory. The Portfolio's investments in New York municipal securities may be vulnerable to events adversely affecting its economy, including public health crises (including the occurrence of a
contagious disease or illness). New York's economy, while diverse, has a relatively large share of the nation's financial activities. With the financial services sector contributing more than one-fifth of the state's wages, the
state's economy is especially vulnerable to adverse events affecting the financial markets such as those that occurred in 2008-2009 and during the COVID-19 pandemic. In addition, as New York's financial services and professional and
business services sectors serve a global market, they can be highly sensitive to global trends. The Portfolio's investments in certain municipal securities with principal and interest payments that are made from the revenues of a specific
project or facility, and not general tax revenues, may have increased risks. Factors affecting the project or facility, such as local business or economic conditions, could have a significant effect on the project's ability to make payments of
principal and interest on these securities.

In addition, changes in tax rates or the treatment of income from certain types of municipal securities, among other things, could negatively affect the municipal securities markets.

The municipal securities issued by Puerto Rico and its government agencies and municipalities may have more risks than those of other U.S. issuers of municipal securities. Puerto Rico continues to face a challenging economic and fiscal environment. If the general economic situation in Puerto Rico persists or worsens, the volatility and credit quality of Puerto Rican municipal securities could continue to be adversely affected, and the market for such securities may deteriorate further.

• **Inflation Risk:** This is the risk that the value of assets or income from investments will be less in the
future as inflation decreases the value of money. As inflation increases, the value of the Portfolio's assets can decline as can the value of the Portfolio's distributions. This risk is significantly greater for fixed-income securities
with longer maturities.

• **Credit Risk:** An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or
other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security and accrued interest.
The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.
Investments in fixed-income securities with lower ratings tend to have a higher probability that an issuer will default or fail to meet its payment obligations.

• **Tax Risk:** There is no guarantee that the income on the Portfolio's municipal securities will be
exempt from regular U.S. federal, and if applicable, state income taxes. From time to time, the U.S. Government and the U.S. Congress consider changes in U.S. federal income tax law that could limit or eliminate the federal tax exemption for
municipal bond income, which would in effect reduce the income received by shareholders from the Portfolio by increasing taxes on that income. In such event, the Portfolio's net asset value ("NAV") could also decline as yields on
municipal bonds, which are typically lower than those on taxable bonds, would be expected to increase to approximately the yield of comparable taxable bonds. Actions or anticipated actions affecting the tax exempt status of municipal bonds could
also result in significant shareholder redemptions of Portfolio shares as investors anticipate adverse effects on the Portfolio or seek higher yields to offset the potential loss of the tax deduction. As a result, the Portfolio would be required to
maintain higher levels of cash to meet the redemptions, which would negatively affect the Portfolio's yield.

• **Illiquid Investments Risk:** Illiquid investments risk exists when certain investments are or become
difficult to purchase or sell. Difficulty in selling such investments may result in sales at disadvantageous prices affecting the value of your investment in the Portfolio. Causes of illiquid investments risk may include low trading volumes, large
positions and heavy redemptions of Portfolio shares. Illiquid investments risk may be higher in a rising interest rate environment, when the value and liquidity of fixed-income securities generally decline. Municipal securities may have more
illiquid investments risk than other fixed-income securities because they trade less frequently and the market for municipal securities is generally smaller than many other markets.

------

• **Derivatives Risk:** Derivatives may be difficult to price or unwind and leveraged so that small changes may
produce disproportionate losses for the Portfolio. A short position in a derivative instrument involves the risk of a theoretically unlimited increase in the value of the underlying asset, reference rate or index, which could cause the Portfolio to
suffer a potentially unlimited loss. Derivatives, especially over-the-counter derivatives, are also subject to counterparty risk, which is the risk that the counterparty (the party on the other side of the transaction) on a derivative transaction
will be unable or unwilling to honor its contractual obligations to the Portfolio.

• **Management Risk:** The Portfolio is subject to management risk because it is an actively-managed investment
fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions, but there is no guarantee that its techniques will produce the intended results. Some of these techniques may incorporate, or rely upon,
quantitative models, but there is no guarantee that these models will generate accurate forecasts, reduce risk or otherwise perform as expected.

As with all investments, you may lose money by investing in the Portfolio.

**BAR CHART AND PERFORMANCE INFORMATION:** 

The bar chart and performance information provide an indication of the historical risk of an investment in the Portfolio by showing:

• how the Portfolio's performance changed from year to year over ten years; and

• how the Portfolio's average annual returns for one, five and ten years compare to those of a broad-based
securities market index.

You may obtain updated performance information on the Portfolio's website at <u>www.abfunds.com</u> (click on "Investments—Mutual Funds").

The Portfolio's past performance before and after taxes, of course, does not necessarily indicate how it will perform in the future.

**Bar Chart** 

The annual returns in the bar chart are for the Portfolio's Class A shares and do not reflect sales loads. If sales loads were reflected, returns would be less than those shown. Through June 30, 2025, the year-to-date unannualized return for Class A shares was -0.85%.

![LOGO](g926771g01a56.jpg)

During the period shown in the bar chart, the Portfolio's:

**Best Quarter was up 6.37%, 4th quarter, 2023; and Worst Quarter was down -5.80%, 1st quarter, 2022.** 

**Performance Table** 

**Average Annual Total Returns** 

(For the periods ended December 31, 2024)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **1 Year** | **5 Years** | **10 Years** |
| Class A\* | Return Before Taxes | -0.15% | 0.22% | 1.67% |
|  | Return After Taxes on Distributions | -0.20% | 0.18% | 1.64% |
|  | Return After Taxes on Distributions and Sale of Portfolio Shares | 1.04% | 0.72% | 1.88% |
| Class C | Return Before Taxes | 1.20% | 0.10% | 1.23% |
| Advisor Class | Return Before Taxes | 3.13% | 1.09% | 2.23% |
| Bloomberg Municipal Bond Index<br>(reflects no deduction for fees, expenses or taxes) | Bloomberg Municipal Bond Index<br>(reflects no deduction for fees, expenses or taxes) | 1.05% | 0.99% | 2.25% |

---

\* After-tax Returns:

– Are shown for Class A shares only and will vary for the other Classes of shares because these Classes have different expense ratios;

– Are an estimate, which is based on the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes; actual after-tax returns depend on an individual investor's tax situation and are likely to differ from those shown; and

– Are not relevant to investors who hold Portfolio shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

------

**INVESTMENT ADVISER:** 

AllianceBernstein L.P. is the investment adviser for the Portfolio.

**PORTFOLIO MANAGERS:** 

The following table lists the persons responsible for day-to-day management of the Portfolio's portfolio:

---

| | | |
|:---|:---|:---|
| **Employee** | **Length of Service** | **Title** |
| Daryl Clements | Since 2022 | Senior Vice President of the Adviser |
| Matthew J. Norton | Since 2016 | Senior Vice President of the Adviser |
| Andrew D. Potter | Since 2018 | Senior Vice President of the Adviser |

---

**PURCHASE AND SALE OF PORTFOLIO SHARES** 

**Purchase Minimums** 

The following table describes the initial and subsequent minimum purchase amounts for each class of shares, which are subject to waiver in certain circumstances.

---

| | | |
|:---|:---|:---|
| | **Initial** | **Subsequent** |
| Class A/Class C shares, including traditional IRAs and Roth IRAs | $2500 | $50 |
| Automatic Investment Program |  | $50<br>If initial investment is<br>less than $2,500, then $200<br>monthly until account balance<br>reaches $2,500 |
| Advisor Class shares (only available to fee-based programs or through other limited arrangements and certain commission-based brokerage arrangements) |  |  |
| Class A shares are available at NAV, without an initial sales charge, to 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit-sharing and money purchase pension plans, defined benefit plans, and non-qualified deferred compensation plans, where in each case plan level or omnibus accounts are held on the books of the Portfolio. |  |  |

---

You may sell (redeem) your shares each day the New York Stock Exchange is open. You may sell your shares through your financial intermediary or by mail (AllianceBernstein Investor Services, Inc., P.O. Box 786003, San Antonio, TX 78278-6003) or telephone ((800) 221-5672).

**TAX INFORMATION** 

The Portfolio may make capital gains distributions, which may be taxable as ordinary income or capital gains, and income dividends. The Portfolio anticipates that substantially all of its income dividends will be exempt from regular federal income tax and New York state and local personal income taxes.

**PAYMENTS TO BROKER-DEALERS AND OTHER FINANCIAL INTERMEDIARIES** 

If you purchase shares of the Portfolio through a broker-dealer or other financial intermediary (such as a bank), the Portfolio and its related companies may pay the intermediary for the sale of Portfolio shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other financial intermediary and your salesperson to recommend the Portfolio over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

------

---

| | |
|:---|:---|
| **PRO-0116-MNY-0925** | ![LOGO](g926771g22c48.jpg) |

---