# EDGAR Filing Document

**Accession Number:** 0000828475
**File Stem:** 0000828475-23-000001
**Filing Date:** 2023-2
**Character Count:** 144853
**Document Hash:** cfc6a81f2bb7a25915c673694e01c7bc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000828475-23-000001.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0000828475-23-000001

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 9

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**EFFECTIVENESS DATE**: 20230223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BNY MELLON NEW JERSEY MUNICIPAL BOND FUND, INC.
- **CENTRAL INDEX KEY:** 0000828475
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05454
- **FILM NUMBER:** 23659086

**BUSINESS ADDRESS:**
- **STREET 1:** C/O BNY MELLON INVESTMENT ADVISER, INC.
- **STREET 2:** 240 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10286
- **BUSINESS PHONE:** 2129226400

**MAIL ADDRESS:**
- **STREET 1:** C/O BNY MELLON INVESTMENT ADVISER, INC.
- **STREET 2:** 240 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10286

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREYFUS NEW JERSEY MUNICIPAL BOND FUND, INC.
- **DATE OF NAME CHANGE:** 20181030

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREYFUS NEW JERSEY MUNICIPAL BOND FUND INC
- **DATE OF NAME CHANGE:** 20081201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREYFUS PREMIER NEW JERSEY MUNICIPAL BOND FUND INC
- **DATE OF NAME CHANGE:** 20030121

## Series and Classes Contracts Data

### BNY Mellon New Jersey Municipal Bond Fund, Inc. (Series ID: S000000091)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000134 | Class A      | DRNJX           |
| C000000136 | Class C      | DCNJX           |
| C000041105 | Class Z      | DZNJX           |
| C000073401 | Class I      | DNMIX           |
| C000130454 | Class Y      | DNJYX           |

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT<br> INVESTMENT COMPANIES

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Investment Company Act file number | &nbsp;&nbsp;Investment Company Act file number | &nbsp;&nbsp;811-05454 | &nbsp;&nbsp;811-05454 |
| &nbsp;&nbsp;BNY Mellon New Jersey Municipal Bond Fund, Inc. | &nbsp;&nbsp;BNY Mellon New Jersey Municipal Bond Fund, Inc. | &nbsp;&nbsp;BNY Mellon New Jersey Municipal Bond Fund, Inc. | &nbsp;&nbsp;BNY Mellon New Jersey Municipal Bond Fund, Inc. |
| &nbsp;&nbsp;(Exact name of Registrant as specified in charter) | &nbsp;&nbsp;(Exact name of Registrant as specified in charter) | &nbsp;&nbsp;(Exact name of Registrant as specified in charter) | &nbsp;&nbsp;(Exact name of Registrant as specified in charter) |
| &nbsp;&nbsp; <br> c/o BNY Mellon Investment Adviser, Inc.<br> 240 Greenwich Street<br> New York, New York 10286 | &nbsp;&nbsp; <br> c/o BNY Mellon Investment Adviser, Inc.<br> 240 Greenwich Street<br> New York, New York 10286 | &nbsp;&nbsp; <br> c/o BNY Mellon Investment Adviser, Inc.<br> 240 Greenwich Street<br> New York, New York 10286 | &nbsp;&nbsp; <br> c/o BNY Mellon Investment Adviser, Inc.<br> 240 Greenwich Street<br> New York, New York 10286 |
| &nbsp;&nbsp;(Address of principal executive offices) (Zip code) | &nbsp;&nbsp;(Address of principal executive offices) (Zip code) | &nbsp;&nbsp;(Address of principal executive offices) (Zip code) | &nbsp;&nbsp;(Address of principal executive offices) (Zip code) |
| &nbsp;&nbsp; Deirdre Cunnane, Esq.<br> 240 Greenwich Street<br> New York, New York 10286 | &nbsp;&nbsp; Deirdre Cunnane, Esq.<br> 240 Greenwich Street<br> New York, New York 10286 | &nbsp;&nbsp; Deirdre Cunnane, Esq.<br> 240 Greenwich Street<br> New York, New York 10286 | &nbsp;&nbsp; Deirdre Cunnane, Esq.<br> 240 Greenwich Street<br> New York, New York 10286 |
| &nbsp;&nbsp;(Name and address of agent for service) | &nbsp;&nbsp;(Name and address of agent for service) | &nbsp;&nbsp;(Name and address of agent for service) | &nbsp;&nbsp;(Name and address of agent for service) |
| &nbsp;&nbsp;Registrant's telephone number, including area code: | &nbsp;&nbsp;Registrant's telephone number, including area code: | &nbsp;&nbsp;Registrant's telephone number, including area code: | &nbsp;&nbsp;(212) 922-6400 |
| &nbsp;&nbsp; Date of fiscal year end: | &nbsp;&nbsp;12/31 | &nbsp;&nbsp;12/31 | &nbsp;&nbsp;12/31 |
| &nbsp;&nbsp;Date of reporting period: | &nbsp;&nbsp; 12/31/22 | &nbsp;&nbsp; 12/31/22 | &nbsp;&nbsp; 12/31/22 |

---

**FORM N-CSR**

**Item 1. Reports to Stockholders.**

## BNY Mellon New Jersey Municipal Bond Fund, Inc.
**ANNUAL REPORT**<br>December 31, 2022<br>

![](img_7f21bcca031d4.jpg)<br>

**Save time. Save paper. View your next shareholder report online as soon as it's available. Log into www.im.bnymellon.com and sign up for eCommunications. It's simple and only takes a few minutes.**<br>

---

| |
|:---|
| The views expressed in this report reflect those of the portfolio manager(s) only through the end of the period covered and do not necessarily represent the views of BNY Mellon Investment Adviser, Inc. or any other person in the BNY Mellon Investment Adviser, Inc. organization. Any such views are subject to change at any time based upon market or other conditions and BNY Mellon Investment Adviser, Inc. disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund in the BNY Mellon Family of Funds are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund in the BNY Mellon Family of Funds. |
| Not FDIC-Insured • Not Bank-Guaranteed • May Lose Value |

---

## Contents
THE FUND

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Discussion of Fund Performance](#1) | [2](#1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Fund Performance](#2) | [4](#2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Understanding Your Fund's Expenses](#3) | [7](#3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Comparing Your Fund's Expenses <br> With Those of Other Funds](#4) | [7](#4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Statement of Investments](#5) | [8](#5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Statement of Assets and Liabilities](#6) | [19](#6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Statement of Operations](#7) | [20](#7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Statement of Changes in Net Assets](#8) | [21](#8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Financial Highlights](#9) | [23](#9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Notes to Financial Statements](#10) | [28](#10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Report of Independent Registered<br> Public Accounting Firm](#11) | [38](#11) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Important Tax Information](#12) | [39](#12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Board Members Information](#13) | [40](#13) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Officers of the Fund](#14) | [42](#14) |

---

FOR MORE INFORMATION

Back Cover

DISCUSSION OF FUND PERFORMANCE (Unaudited)

*For the period from January 1, 2022, through December 31, 2022, as provided by Daniel Barton, CFA and Jeffrey Burger, CFA, Portfolio Managers of Insight North America LLC, sub-adviser.*

#### Market and Fund Performance Overview
For the 12-month period ended December 31, 2022, BNY Mellon New Jersey Municipal Bond Fund, Inc.'s (the "fund") Class A shares produced a total return of -9.41%, Class C shares returned -10.10%, Class I shares returned -9.18%, Class Y shares returned -9.08% and Class Z shares returned -9.15%.<sup>1</sup> In comparison, the Bloomberg U.S. Municipal Bond Index (the "Index"), the fund's benchmark index, which is composed of bonds issued nationally and not solely within New Jersey, produced a total return of -8.53% for the same period.<sup>2</sup>

Municipal bonds lost ground during the period amid high inflation and rising interest rates. The fund lagged the Index, due largely to an overweight to revenue bonds.

#### The Fund's Investment Approach
The fund seeks as high a level of current income exempt from federal and New Jersey state income taxes as is consistent with the preservation of capital. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal and New Jersey state income taxes. The fund invests at least 80% of its net assets in investment-grade municipal bonds or the unrated equivalent as determined by Insight North America LLC, sub-adviser. The fund may invest up to 20% of its assets in municipal bonds rated below investment grade ("high yield" or "junk" bonds) or the unrated equivalent as determined by the fund's sub-adviser. The dollar-weighted average maturity of the fund's portfolio normally exceeds 10 years.

We focus on identifying undervalued sectors and securities and minimizing the use of interest-rate forecasting. We select municipal bonds for the fund's portfolio by using fundamental credit analysis to estimate the relative value and attractiveness of various sectors and securities, and to exploit pricing inefficiencies in the municipal bond market. We actively trade among various sectors, such as pre-refunded, general obligation and revenue, based on their apparent relative values. Although the fund seeks to provide income exempt from federal and New Jersey state income taxes, interest from some of the fund's holdings may be subject to the federal alternative minimum tax.

#### Market Hindered by Volatility and Fund Outflows
During the reporting period, the municipal bond market continued to experience volatility driven by economic uncertainty, rising inflation and geopolitical risk. While employment remains strong, the outcome of the Federal Reserve's (the "Fed") tightening policy is uncertain, with investors fearing that an economic slowdown is likely.

Inflation measures stayed near multi-decade highs during the reporting period. The Fed initiated increases in the federal funds rate, raising it by 25 basis points (bps) in March 2022 and 50 bps in May 2022. In June, July, September and November rates were again raised by 75 bps each time. In December, the Fed again raised rates but only by 50 bps, bringing the federal funds target rate to between 4.25% and 4.50%.

Fears that the economy could slow were realized when the first-quarter GDP figures were released in April 2022, showing the economy declined somewhat. A still-strong labor market, however, suggested that the economy could rebound. Second-quarter data, however, showed that the economy shrank again, making for two consecutive quarters of decline, a rough indicator of recession. But the economy rebounded in the third quarter, with annualized growth of 3.2%.

The persistence of higher-than-expected inflation, combined with measures from the Fed to combat it, have led to significant outflows from municipal bond mutual funds. The need for fund managers to meet redemptions has only added to the downward momentum.

#### 2
While headwinds prevailed over most of the period, credit fundamentals in the municipal market remain strong. In addition, turmoil has resulted in more attractive valuations in many segments of the market, creating what we believe as the potential for outperformance in the future.

In fact, late in the reporting period, attractive values, the prospect of a decline in inflation and an end to the Fed's tightening began to attract investors back into the market, and municipal bonds rebounded strongly. In addition, the normal seasonal decline in supply, combined with the seasonal reinvestment of maturing bonds, provided some support.

#### Revenue Bonds Lagged
The fund's performance versus the Index was hindered by an overweight to revenue bonds, especially in the hospitals, education, tobacco and transportation segments. Underweight positions in electric utilities and water & sewer also detracted. Performance was also hurt by New Jersey bonds generally, as lower-quality bonds lagged. The fund did not make use of derivatives during the period.

The fund's relative performance was aided by its short duration positioning. The fund was overweight at the short end of the municipal bond yield curve, which was beneficial as yields on longer bonds rose. In addition, an underweight position in housing and special tax bonds also added to performance.

#### Environment Favorable for Municipal Bonds
With the decline in fixed-income markets, including the municipal bond market, we have become more positive on the outlook. The trajectory of inflation now appears to be downward, which should benefit municipals and other fixed-income markets. In addition, attractive valuations, healthy fundamentals and favorable technical factors should provide a catalyst to the market in 2023. In fact, after a challenging year in 2022, technical factors now appear especially favorable. Attractive valuations are leading to strong fund inflows, and we anticipate that the market will see a net shortage of supply as more bonds are maturing than are expected to be issued.

As for New Jersey, the state continues to make progress in improving its fiscal condition, including bolstering its "rainy day" fund. We believe the state is well-positioned for a possible economic slowdown.

January 17, 2023

*<sup>1</sup> Total return includes reinvestment of dividends and any capital gains paid and does not take into consideration the maximum initial sales charge in the case of Class A shares or the applicable contingent deferred sales charge imposed on redemptions in the case of Class C shares. Had these charges been reflected, returns would have been lower. Class I, Class Y and Class Z shares are not subject to any initial or deferred sales charge. Past performance is no guarantee of future results. Share price, yield and investment return fluctuate such that upon redemption, fund shares may be worth more or less than their original cost. Income may be subject to state and local taxes for non-New Jersey residents, and some income may be subject to the federal alternative minimum tax (AMT) for certain investors. Capital gains, if any, are fully taxable. Return figures reflect the absorption of certain fund expenses pursuant to an agreement by BNY Mellon Investment Adviser, Inc. which may be terminated after April 29, 2023. Had these expenses not been absorbed, the returns would have been lower.* 

*<sup>2</sup> Source: Lipper Inc. — The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated, long-term, tax-exempt bond market. Investors cannot invest directly in any index.*

*Bonds are subject generally to interest-rate, credit, liquidity and market risks, to varying degrees, all of which are more fully described in the fund's prospectus. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes, and rate increases can cause price declines. High yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer's perceived ability to continue making interest payments on a timely basis and to repay principal upon maturity. Municipal income may be subject to state and local taxes for out-of-state residents. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.*

*Recent market risks include pandemic risks related to COVID-19. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors.*

#### 3
FUND PERFORMANCE (Unaudited)

![](img_4838cad749de4.jpg)

Comparison of change in value of a $10,000 investment in Class A shares, Class C shares, Class I shares and Class Z shares of BNY Mellon New Jersey Municipal Bond Fund, Inc. with a hypothetical investment of $10,000 in the Bloomberg U.S. Municipal Bond Index (the "Index").

*<sup>†</sup> Source: Lipper Inc.*

*Past performance is not predictive of future performance.* 

*The above graph compares a hypothetical $10,000 investment made in Class A shares, Class C shares, Class I shares and Class Z shares of BNY Mellon New Jersey Municipal Bond Fund, Inc. on 12/31/12 to a hypothetical investment of $10,000 made in the Index on that date. All dividends and capital gain distributions are reinvested.* 

*The fund invests primarily in New Jersey municipal securities and its performance shown in the line graph above takes into account the maximum initial sales charge on Class A shares and all other applicable fees and expenses of the applicable classes. The Index is not limited to investments in New Jersey municipal obligations. The Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Unlike a mutual fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index. Further information relating to fund performance, including expense reimbursements, if applicable, is contained in the Financial Highlights section of the prospectus and elsewhere in this report.*

#### 4
Comparison of change in value of a $1,000,000 investment in Class Y shares of BNY Mellon New Jersey Municipal Bond Fund, Inc. with a hypothetical investment of $1,000,000 in the Bloomberg U.S. Municipal Bond Index (the "Index").

*<sup>†</sup> Source: Lipper Inc.*

*<sup>††</sup> The total return figures presented for Class Y shares of the fund reflect the performance of the fund's Class A shares for the period prior to 7/1/13 (the inception date for Class Y shares).*

*Past performance is not predictive of future performance.* 

*The above graph compares a hypothetical $1,000,000 investment made in Class Y shares of BNY Mellon New Jersey Municipal Bond Fund, Inc. on 12/31/12 to a hypothetical investment of $1,000,000 made in the Index on that date. All dividends and capital gain distributions are reinvested.*

*The fund's performance shown in the graph above takes into account all applicable fees and expenses of the fund's Class Y shares. The Index is not limited to investments in New Jersey municipal obligations. The Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Unlike a mutual fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index. Further information relating to fund performance, including expense reimbursements, if applicable, is contained in the Financial Highlights section of the prospectus and elsewhere in this report.*

#### 5
FUND PERFORMANCE *(Unaudited) (continued)*

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| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns as of 12/31/2022** | **Average Annual Total Returns as of 12/31/2022** | **Average Annual Total Returns as of 12/31/2022** | **Average Annual Total Returns as of 12/31/2022** | **Average Annual Total Returns as of 12/31/2022** |
|  | Inception<br>Date | 1 Year | 5 Years | 10 Years |
| **Class A shares** |  |  |  |  |
| *with maximum sales charge (4.50%)* | **11/6/87** | **-13.52%** | **-.22%** | **1.23%** |
| *without sales charge*  | **11/6/87** | **-9.41%** | **.71%** | **1.70%** |
| **Class C shares** |  |  |  |  |
| *with applicable redemption charge <sup>†</sup>* | **1/7/03** | **-10.98%** | **-.04%** | **.95%** |
| *without redemption*  | **1/7/03** | **-10.10%** | **-.04%** | **.95%** |
| **Class I shares** | **12/15/08** | **-9.18%** | **.95%** | **1.95%** |
| **Class Y shares** | **7/1/13** | **-9.08%** | **.98%** | **&nbsp;&nbsp;&nbsp;&nbsp; 1.97%<sup>††</sup>** |
| **Class Z shares**  | **6/7/07** | **-9.15%** | **.93%** | **1.91%** |
| **Bloomberg U.S. Municipal Bond Index**  |  | **-8.53%** | **1.25%** | **2.13%** |

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*<sup>†</sup> The maximum contingent deferred sales charge for Class C shares is 1% for shares redeemed within one year of the date of purchase.*

*<sup>††</sup> The total return performance figures presented for Class Y shares of the fund reflect the performance of the fund's Class A shares for the period prior to 7/1/13 (the inception date for Class Y shares), not reflecting the applicable sales charges for Class A shares.*

***The performance data quoted represents past performance, which is no guarantee of future results. Share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Go to* www.im.bnymellon.com *for the fund's most recent month-end returns.***

*The fund's performance shown in the graphs and table does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. In addition to the performance of Class A shares shown with and without a maximum sales charge, the fund's performance shown in the table takes into account all other applicable fees and expenses on all classes.*

#### 6
UNDERSTANDING YOUR FUND'S EXPENSES (Unaudited)

*As a mutual fund investor, you pay ongoing expenses, such as management fees and other expenses. Using the information below, you can estimate how these expenses affect your investment and compare them with the expenses of other funds. You also may pay one-time transaction expenses, including sales charges (loads) and redemption fees, which are not shown in this section and would have resulted in higher total expenses. For more information, see your fund's prospectus or talk to your financial adviser.*

#### Review your fund's expenses
The table below shows the expenses you would have paid on a $1,000 investment in BNY Mellon New Jersey Municipal Bond Fund, Inc. from July 1, 2022 to December 31, 2022. It also shows how much a $1,000 investment would be worth at the close of the period, assuming actual returns and expenses.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** |
| Assume actual returns for the six months ended December 31, 2022 | Assume actual returns for the six months ended December 31, 2022 | Assume actual returns for the six months ended December 31, 2022 | Assume actual returns for the six months ended December 31, 2022 | Assume actual returns for the six months ended December 31, 2022 | Assume actual returns for the six months ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class A** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class C** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class Y** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class Z** |
| Expenses paid per $1,000<sup>†</sup> | &nbsp;&nbsp;&nbsp; $4.28 | &nbsp;&nbsp;&nbsp; $8.04 | &nbsp;&nbsp;&nbsp; $3.02 | &nbsp;&nbsp;&nbsp; $3.02 | &nbsp;&nbsp;&nbsp; $3.38 |
| Ending value (after expenses) | &nbsp;&nbsp;&nbsp; $998.00 | &nbsp;&nbsp;&nbsp; $994.20 | &nbsp;&nbsp;&nbsp; $999.20 | &nbsp;&nbsp;&nbsp; $999.90 | &nbsp;&nbsp;&nbsp; $999.90 |

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COMPARING YOUR FUND'S EXPENSES WITH THOSE OF OTHER FUNDS (Unaudited)

#### Using the SEC's method to compare expenses
The Securities and Exchange Commission ("SEC") has established guidelines to help investors assess fund expenses. Per these guidelines, the table below shows your fund's expenses based on a $1,000 investment, assuming a hypothetical 5% annualized return. You can use this information to compare the ongoing expenses (but not transaction expenses or total cost) of investing in the fund with those of other funds. All mutual fund shareholder reports will provide this information to help you make this comparison. Please note that you cannot use this information to estimate your actual ending account balance and expenses paid during the period.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** | **Expenses and Value of a $1,000 Investment** |
| Assuming a hypothetical 5% annualized return for the six months ended December 31, 2022 | Assuming a hypothetical 5% annualized return for the six months ended December 31, 2022 | Assuming a hypothetical 5% annualized return for the six months ended December 31, 2022 | Assuming a hypothetical 5% annualized return for the six months ended December 31, 2022 | Assuming a hypothetical 5% annualized return for the six months ended December 31, 2022 | Assuming a hypothetical 5% annualized return for the six months ended December 31, 2022 | Assuming a hypothetical 5% annualized return for the six months ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class A** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class C** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class Y** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class Z** |
| Expenses paid per $1,000<sup>†</sup> | Expenses paid per $1,000<sup>†</sup> | &nbsp;&nbsp;&nbsp; $4.33 | &nbsp;&nbsp;&nbsp; $8.13 | &nbsp;&nbsp;&nbsp; $3.06 | &nbsp;&nbsp;&nbsp; $3.06 | &nbsp;&nbsp;&nbsp; $3.41 |
| Ending value (after expenses) | Ending value (after expenses) | &nbsp;&nbsp;&nbsp; $1020.92 | &nbsp;&nbsp;&nbsp; $1017.14 | &nbsp;&nbsp;&nbsp; $1022.18 | &nbsp;&nbsp;&nbsp; $1022.18 | &nbsp;&nbsp;&nbsp; $1021.83 |
| *<sup>†</sup>* | *Expenses are equal to the fund's annualized expense ratio of .85% for Class A, 1.60% for Class C, .60% for Class I, .60% for Class Y and .67% for Class Z, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).* | *Expenses are equal to the fund's annualized expense ratio of .85% for Class A, 1.60% for Class C, .60% for Class I, .60% for Class Y and .67% for Class Z, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).* | *Expenses are equal to the fund's annualized expense ratio of .85% for Class A, 1.60% for Class C, .60% for Class I, .60% for Class Y and .67% for Class Z, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).* | *Expenses are equal to the fund's annualized expense ratio of .85% for Class A, 1.60% for Class C, .60% for Class I, .60% for Class Y and .67% for Class Z, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).* | *Expenses are equal to the fund's annualized expense ratio of .85% for Class A, 1.60% for Class C, .60% for Class I, .60% for Class Y and .67% for Class Z, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).* | *Expenses are equal to the fund's annualized expense ratio of .85% for Class A, 1.60% for Class C, .60% for Class I, .60% for Class Y and .67% for Class Z, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).* |

---

#### 7
STATEMENT OF INVESTMENTS

December 31, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0%**  | **Long-Term Municipal Investments - 98.0%**  | **Long-Term Municipal Investments - 98.0%**  |  |  |
| **New Jersey - 84.8%**  | **New Jersey - 84.8%**  | **New Jersey - 84.8%**  |  |  |
| East Orange Board of Education, COP (Insured; Assured Guaranty Municipal Corp.) | 0.00 | 2/1/2026 | 745000<br> <sup>a</sup>  | 673451 |
| East Orange Board of Education, COP (Insured; Assured Guaranty Municipal Corp.) | 0.00 | 2/1/2028 | 2345000<br> <sup>a</sup>  | 1968067 |
| Edison Township, GO, Refunding | 3.00 | 3/15/2033 | 1365000 | 1314033 |
| Essex County Improvement Authority, Revenue Bonds (Friends of TEAM Academy Charter School Obligated Group) | 4.00 | 6/15/2056 | 4560000 | 3712467 |
| Garden Preservation Trust, Revenue Bonds (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.75 | 11/1/2028 | 10000000 | 10997242 |
| Hudson County Improvement Authority, Revenue Bonds | 5.00 | 5/1/2046 | 2500000 | 2591973 |
| Hudson County Improvement Authority, Revenue Bonds (Insured; National Public Finance Guarantee Corp.) Ser. A1 | 0.00 | 12/15/2034 | 3000000<br> <sup>a</sup>  | 1899359 |
| Hudson County Improvement Authority, Revenue Bonds, Refunding (Insured; County Guaranteed) | 4.00 | 1/1/2037 | 2000000 | 2012874 |
| Hudson County Improvement Authority, Revenue Bonds, Refunding (Insured; County Guaranteed) | 4.00 | 1/1/2036 | 1250000 | 1271159 |
| Jersey City, GO, Refunding, Ser. A | 5.00 | 11/1/2033 | 400000 | 436392 |
| Jersey City Redevelopment Agency, Revenue Bonds (Bayfront Redevelopment Project) (Insured; Municipal Government Guaranteed) | 4.00 | 12/15/2031 | 5000000 | 5293533 |
| Middletown Township Board of Education, GO, Refunding (Insured; School Bond Reserve Fund) | 5.00 | 8/1/2026 | 3175000 | 3417310 |
| New Brunswick Parking Authority, Revenue Bonds, Refunding (Insured; Build America Mutual) Ser. A | 5.00 | 9/1/2035 | 2000000 | 2116782 |
| New Jersey Economic Development Authority, Revenue Bonds (Beloved Community Charter School Project) Ser. A | 5.00 | 6/15/2054 | 725000<br> <sup>b</sup>  | 646315 |

---

#### 8

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** |  |  |
| **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** |  |  |
| New Jersey Economic Development Authority, Revenue Bonds (Beloved Community Charter School Project) Ser. A | 5.00 | 6/15/2049 | 1105000<br> <sup>b</sup>  | 999955 |
| New Jersey Economic Development Authority, Revenue Bonds (Charter Foundation Academy Charter School Project) Ser. A | 5.00 | 7/1/2050 | 1000000 | 960892 |
| New Jersey Economic Development Authority, Revenue Bonds (The Goethals) | 5.38 | 1/1/2043 | 3500000 | 3505994 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding (American Water Co.) Ser. A | 2.20 | 12/3/2029 | 3000000<br> <sup>c</sup>  | 2580089 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding (Cranes Mill Project) | 5.00 | 1/1/2049 | 2000000 | 1669600 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding (Insured; National Public Finance Guarantee Corp.) Ser. N1 | 5.50 | 9/1/2027 | 10000000 | 11023832 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding (New Jersey Natural Gas Company Project) | 3.00 | 8/1/2043 | 3500000 | 2536949 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding (New Jersey Natural Gas Company Project) | 3.50 | 4/1/2042 | 2000000 | 1718983 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding (New Jersey Natural Gas Company Project) | 2.45 | 4/1/2026 | 2250000<br> <sup>c</sup>  | 2200299 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding (Port Newark Container Terminal) | 5.00 | 10/1/2047 | 7500000 | 7322539 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding (Provident Group-Montclair Properties) (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 6/1/2042 | 1000000 | 1021721 |
| New Jersey Economic Development Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2033 | 1000000 | 1042665 |

---

#### 9
*STATEMENT OF INVESTMENTS (continued)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** |  |  |
| **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** |  |  |
| New Jersey Economic Development Authority, Revenue Bonds, Ser. A | 6.25 | 7/1/2024 | 20000 | 20036 |
| New Jersey Educational Facilities Authority, Revenue Bonds (Green Bond) Ser. A | 4.00 | 7/1/2050 | 3000000 | 2590139 |
| New Jersey Educational Facilities Authority, Revenue Bonds (Insured; Assured Guaranty Municipal Corp.) Ser. C | 4.00 | 7/1/2050 | 1000000 | 934911 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Refunding (Ramapo College of New Jersey) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 4.00 | 7/1/2052 | 650000 | 593867 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Refunding (Ramapo College of New Jersey) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 7/1/2034 | 2000000 | 2137472 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Refunding (Stockton University) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 7/1/2035 | 1600000 | 1682369 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Refunding (The William Paterson University) (Insured; Build America Mutual) Ser. E | 5.00 | 7/1/2030 | 2025000 | 2143371 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Refunding (The William Paterson University) Ser. C | 5.00 | 7/1/2029 | 2130000 | 2210245 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Refunding (The William Paterson University) Ser. C | 5.00 | 7/1/2030 | 2255000 | 2339587 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 3/1/2038 | 4470000 | 5054145 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Refunding, Ser. F | 4.00 | 7/1/2035 | 1365000 | 1363255 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds (AtlantiCare Health System Obligated Group) | 4.00 | 7/1/2035 | 750000 | 764452 |

---

#### 10

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** |  |  |
| **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** |  |  |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds (Inspira Health Obligated Group) | 5.00 | 7/1/2042 | 3500000 | 3564620 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds (RWJ Barnabas Health Obligated Group) | 4.00 | 7/1/2051 | 4000000 | 3595328 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds (Valley Health System Obligated Group) | 4.00 | 7/1/2035 | 1000000 | 1011231 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds (Valley Health System Obligated Group) | 5.00 | 7/1/2034 | 2000000 | 2144139 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding | 5.00 | 7/1/2039 | 2000000 | 2082027 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (AHS Hospital Corp.) | 4.00 | 7/1/2041 | 7500000 | 7232007 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (Hackensack Meridian Health Obligated Group) Ser. A | 5.00 | 7/1/2039 | 1500000 | 1577725 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (Inspira Health Obligated Group) Ser. A | 4.00 | 7/1/2041 | 3250000 | 3158159 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (Inspira Health Obligated Group) Ser. A | 5.00 | 7/1/2046 | 3000000 | 3036382 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (Insured; National Public Finance Guarantee Corp.) Ser. B | 0.00 | 7/1/2023 | 2280000<br> <sup>a</sup>  | 2246281 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (RWJ Barnabas Health Obligated Group) Ser. A | 5.00 | 7/1/2043 | 3500000 | 3591421 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (RWJ Barnabas Health Obligated Group) Ser. B3 | 5.00 | 7/1/2026 | 6000000<br> <sup>c</sup>  | 6392293 |

---

#### 11
*STATEMENT OF INVESTMENTS (continued)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** |  |  |
| **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** |  |  |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (St. Joseph's Healthcare System Obligated Group) | 5.00 | 7/1/2041 | 1000000 | 1004708 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (St. Joseph's Healthcare System Obligated Group) | 5.00 | 7/1/2036 | 2790000 | 2842226 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (University Hospital) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 7/1/2046 | 2000000 | 2014422 |
| New Jersey Higher Education Student Assistance Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 12/1/2030 | 1575000 | 1717735 |
| New Jersey Higher Education Student Assistance Authority, Revenue Bonds, Refunding, Ser. C | 3.63 | 12/1/2049 | 2750000 | 2212433 |
| New Jersey Higher Education Student Assistance Authority, Revenue Bonds, Ser. 1A | 5.00 | 12/1/2027 | 1050000 | 1108781 |
| New Jersey Higher Education Student Assistance Authority, Revenue Bonds, Ser. B | 5.00 | 12/1/2028 | 1450000 | 1560680 |
| New Jersey Housing & Mortgage Finance Agency, Revenue Bonds, Refunding, Ser. A | 3.75 | 10/1/2035 | 1235000 | 1171247 |
| New Jersey Housing & Mortgage Finance Agency, Revenue Bonds, Ser. H | 5.00 | 10/1/2028 | 485000 | 530301 |
| New Jersey Housing & Mortgage Finance Agency, Revenue Bonds, Ser. H | 5.00 | 4/1/2028 | 325000 | 352953 |
| New Jersey Infrastructure Bank, Revenue Bonds (Green Bond) | 3.00 | 9/1/2038 | 3075000 | 2689168 |
| New Jersey Infrastructure Bank, Revenue Bonds, Refunding (Green Bond) (Insured; Municipal Government Guaranteed) Ser. AR2 | 4.00 | 9/1/2023 | 2085000 | 2100669 |
| New Jersey Infrastructure Bank, Revenue Bonds, Refunding (Green Bond) (Insured; Municipal Government Guaranteed) Ser. AR2 | 4.00 | 9/1/2023 | 10000 | 10067 |
| New Jersey Institute of Technology, Revenue Bonds, Ser. A | 5.00 | 7/1/2031 | 3385000 | 3520200 |

---

#### 12

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** |  |  |
| **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** |  |  |
| New Jersey Rutgers University, Revenue Bonds, Refunding, Ser. M | 5.00 | 5/1/2034 | 1600000 | 1689460 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds | 5.00 | 6/15/2046 | 2800000 | 2838750 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds | 5.25 | 6/15/2043 | 3500000 | 3637772 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds | 5.50 | 6/15/2050 | 2000000 | 2140534 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds (Insured; American Municipal Bond Assurance Corp.) Ser. C | 0.00 | 12/15/2024 | 1000000<br> <sup>a</sup>  | 936997 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds (Insured; Build America Mutual) Ser. A | 0.00 | 12/15/2028 | 12000000<br> <sup>a</sup>  | 9742189 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds (Insured; Build America Mutual) Ser. A | 0.00 | 12/15/2038 | 6330000<br> <sup>a</sup>  | 3075005 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding | 5.00 | 12/15/2031 | 4600000 | 5014161 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/15/2036 | 6745000 | 7069789 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, Ser. A | 5.50 | 12/15/2023 | 7000000 | 7143590 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. AA | 5.00 | 6/15/2050 | 1515000 | 1533692 |
| New Jersey Turnpike Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.25 | 1/1/2027 | 3000000 | 3288114 |
| New Jersey Turnpike Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2040 | 1000000 | 1049658 |
| New Jersey Turnpike Authority, Revenue Bonds, Refunding, Ser. E | 5.00 | 1/1/2031 | 2500000 | 2757076 |
| New Jersey Turnpike Authority, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2035 | 1000000 | 1083977 |
| New Jersey Turnpike Authority, Revenue Bonds, Ser. A | 4.00 | 1/1/2042 | 9000000 | 8811493 |
| New Jersey Turnpike Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2031 | 2500000 | 2708371 |
| New Jersey Turnpike Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2034 | 2000000 | 2057901 |

---

#### 13
*STATEMENT OF INVESTMENTS (continued)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** |  |  |
| **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** |  |  |
| New Jersey Turnpike Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2035 | 1500000 | 1602287 |
| New Jersey Turnpike Authority, Revenue Bonds, Ser. E | 5.00 | 1/1/2045 | 4000000 | 4078958 |
| Newark, GO, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 10/1/2028 | 750000 | 830417 |
| Ocean County, GO, Ser. A | 3.00 | 8/1/2033 | 2145000 | 2091981 |
| Salem County Pollution Control Financing Authority, Revenue Bonds, Refunding (Chambers Project) Ser. A | 5.00 | 12/1/2023 | 265000 | 268341 |
| South Jersey Port Corp., Revenue Bonds, Ser. B | 5.00 | 1/1/2042 | 1500000 | 1500591 |
| South Jersey Port Corp., Revenue Bonds, Ser. B | 5.00 | 1/1/2048 | 2830000 | 2738899 |
| South Jersey Port Corp., Revenue Bonds, Ser. P2 | 5.75 | 1/1/2023 | 4000000 | 4000000 |
| South Jersey Transportation Authority, Revenue Bonds | 4.63 | 11/1/2047 | 3000000 | 2835071 |
| South Jersey Transportation Authority, Revenue Bonds, Ser. A | 4.00 | 11/1/2050 | 1000000 | 832067 |
| The Atlantic County Improvement Authority, Revenue Bonds (Stockton University) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 7/1/2048 | 3000000 | 3124414 |
| The Camden County Improvement Authority, Revenue Bonds (Cooper Health System Obligated Group) | 5.75 | 2/15/2042 | 5000000 | 5009179 |
| The Camden County Improvement Authority, Revenue Bonds (Insured; County Guaranteed) Ser. A | 5.00 | 1/15/2032 | 2695000 | 2850773 |
| The Camden County Improvement Authority, Revenue Bonds (Insured; County Guaranteed) Ser. A | 5.00 | 1/15/2031 | 3000000 | 3180556 |
| The Camden County Improvement Authority, Revenue Bonds, Refunding (Cooper Health System Obligated Group Project) | 5.00 | 2/15/2034 | 1000000 | 1005695 |
| The Camden County Improvement Authority, Revenue Bonds, Refunding (Rowan University Foundation Project) (Insured; Build America Mutual) Ser. A | 5.00 | 7/1/2035 | 5165000 | 5735234 |

---

#### 14

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** |  |  |
| **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** | **New Jersey - 84.8% (continued)** |  |  |
| The Gloucester County Improvement Authority, Revenue Bonds (Rowan University) (Insured; Build American Mutual) | 4.00 | 7/1/2046 | 725000 | 694093 |
| The Gloucester County Improvement Authority, Revenue Bonds (Rowan University) (Insured; Build American Mutual) | 4.00 | 7/1/2051 | 1200000 | 1126650 |
| The Gloucester County Improvement Authority, Revenue Bonds, Refunding (Rowan University Project) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 11/1/2030 | 1000000 | 1069669 |
| The Gloucester County Industrial Pollution Control Financing Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/1/2024 | 420000 | 426373 |
| The Monmouth County Improvement Authority, Revenue Bonds, Refunding (Insured; County Guaranteed) | 5.00 | 2/15/2031 | 625000 | 684056 |
| The Rahway Valley Sewerage Authority, Revenue Bonds (Insured; National Public Finance Guarantee Corp.) Ser. A | 0.00 | 9/1/2030 | 7550000<br> <sup>a</sup>  | 5806761 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2046 | 7045000 | 6911273 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.25 | 6/1/2046 | 3850000 | 3864179 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. B | 3.20 | 6/1/2027 | 30000 | 29911 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. B | 5.00 | 6/1/2046 | 5000000 | 4780550 |
|  |  |  |  | **292892034** |
| **New York - 11.5%**  | **New York - 11.5%**  | **New York - 11.5%**  |  |  |
| Port Authority of New York & New Jersey, Revenue Bonds | 5.00 | 1/15/2052 | 1000000 | 1023418 |
| Port Authority of New York & New Jersey, Revenue Bonds, Refunding | 4.00 | 9/1/2038 | 2000000 | 1961321 |
| Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 186 | 5.00 | 10/15/2044 | 9730000 | 9822040 |
| Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 197 | 5.00 | 11/15/2033 | 7000000 | 7251708 |

---

#### 15
*STATEMENT OF INVESTMENTS (continued)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description  | Coupon <br>Rate (%) | Maturity<br>Date | Principal<br>Amount ($) | Value ($) |
| **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** | **Long-Term Municipal Investments - 98.0% (continued)** |  |  |
| **New York - 11.5% (continued)** | **New York - 11.5% (continued)** | **New York - 11.5% (continued)** |  |  |
| Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 222 | 5.00 | 7/15/2034 | 2010000 | 2274235 |
| Port Authority of New York & New Jersey, Revenue Bonds, Ser. 178 | 5.00 | 12/1/2024 | 2000000 | 2027845 |
| Port Authority of New York & New Jersey, Revenue Bonds, Ser. 184 | 5.00 | 9/1/2032 | 3000000 | 3094854 |
| Port Authority of New York & New Jersey, Revenue Bonds, Ser. 185 | 5.00 | 9/1/2031 | 2270000 | 2314798 |
| Port Authority of New York & New Jersey, Revenue Bonds, Ser. 218 | 5.00 | 11/1/2049 | 6900000 | 7073191 |
| Port Authority of New York & New Jersey, Revenue Bonds, Ser. 93rd | 6.13 | 6/1/2094 | 3000000 | 3096741 |
|  |  |  |  | **39940151** |
| **Pennsylvania - 1.7%**  | **Pennsylvania - 1.7%**  | **Pennsylvania - 1.7%**  |  |  |
| Delaware River Joint Toll Bridge Commission, Revenue Bonds | 5.00 | 7/1/2037 | 2500000 | 2675922 |
| Delaware River Joint Toll Bridge Commission, Revenue Bonds, Refunding, Ser. B | 5.00 | 7/1/2032 | 1000000 | 1119807 |
| Delaware River Joint Toll Bridge Commission, Revenue Bonds, Ser. A | 5.00 | 7/1/2031 | 600000 | 672218 |
| Delaware River Port Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2038 | 1200000 | 1292563 |
|  |  |  |  | **5760510** |
| **Total Investments** (cost $354,491,505) | **Total Investments** (cost $354,491,505) | **Total Investments** (cost $354,491,505) | **98.0%** | **338592695** |
| **Cash and Receivables (Net)** | **Cash and Receivables (Net)** | **Cash and Receivables (Net)** | **2.0%** | **6822465** |
| **Net Assets** | **Net Assets** | **Net Assets** | **100.0%** | **345415160** |

---

*<sup>a</sup> Security issued with a zero coupon. Income is recognized through the accretion of discount.*

*<sup>b</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, these securities were valued at $1,646,270 or .48% of net assets.*

*<sup>c</sup> These securities have a put feature; the date shown represents the put date and the bond holder can take a specific action to retain the bond after the put date.*

#### 16

---

| | |
|:---|:---|
| Portfolio Summary (Unaudited) <sup>†</sup> | Value (%) |
| Transportation | 25.5 |
| General | 21.6 |
| Medical | 15.1 |
| Education | 12.7 |
| Development | 7.2 |
| Tobacco Settlement | 4.5 |
| Water | 3.0 |
| Student Loan | 1.9 |
| General Obligation | 1.3 |
| Housing | 1.2 |
| Pollution | 1.1 |
| School District | 1.0 |
| Facilities | .8 |
| Single Family Housing | .6 |
| Nursing Homes | .5 |
|  | 98.0 |

---

*<sup>†</sup> Based on net assets.*

*See notes to financial statements.*

#### 17

---

| | | | |
|:---|:---|:---|:---|
| **Summary of Abbreviations** (Unaudited) | **Summary of Abbreviations** (Unaudited) | **Summary of Abbreviations** (Unaudited) | **Summary of Abbreviations** (Unaudited) |
| **ABAG** | Association of Bay Area Governments | **AGC** | ACE Guaranty Corporation |
| **AGIC** | Asset Guaranty Insurance Company | **AMBAC** | American Municipal Bond Assurance Corporation |
| **BAN** | Bond Anticipation Notes | **BSBY** | Bloomberg Short-Term Bank Yield Index |
| **CIFG** | CDC Ixis Financial Guaranty | **COP** | Certificate of Participation |
| **CP** | Commercial Paper | **DRIVERS** | Derivative Inverse Tax-Exempt Receipts |
| **EFFR** | Effective Federal Funds Rate | **FGIC** | Financial Guaranty Insurance Company |
| **FHA** | Federal Housing Administration | **FHLB** | Federal Home Loan Bank |
| **FHLMC** | Federal Home Loan Mortgage Corporation | **FNMA** | Federal National Mortgage Association |
| **GAN** | Grant Anticipation Notes | **GIC** | Guaranteed Investment Contract |
| **GNMA** | Government National Mortgage Association | **GO** | General Obligation |
| **IDC** | Industrial Development Corporation | **LIBOR** | London Interbank Offered Rate |
| **LOC** | Letter of Credit | **LR** | Lease Revenue |
| **NAN** | Note Anticipation Notes | **MFHR** | Multi-Family Housing Revenue |
| **MFMR** | Multi-Family Mortgage Revenue | **MUNIPSA** | Securities Industry and Financial Markets Association Municipal Swap Index Yield |
| **OBFR** | Overnight Bank Funding Rate | **PILOT** | Payment in Lieu of Taxes |
| **PRIME** | Prime Lending Rate | **PUTTERS** | Puttable Tax-Exempt Receipts |
| **RAC** | Revenue Anticipation Certificates | **RAN** | Revenue Anticipation Notes |
| **RIB** | Residual Interest Bonds | **SFHR** | Single Family Housing Revenue |
| **SFMR** | Single Family Mortgage Revenue | **SOFR** | Secured Overnight Financing Rate |
| **TAN** | Tax Anticipation Notes | **TRAN** | Tax and Revenue Anticipation Notes |
| **U.S. T-BILL** | U.S. Treasury Bill Money Market Yield | **XLCA** | XL Capital Assurance |

---

*See notes to financial statements.*

#### 18
STATEMENT OF ASSETS AND LIABILITIES

December 31, 2022

---

| | | |
|:---|:---|:---|
|  | Cost | Value |
| **Assets ($):**  |  |  |
| Investments in securities—See Statement of Investments | 354491505  | 338592695  |
| Cash |  | 2761896  |
| Interest receivable | Interest receivable | 4690779  |
| Receivable for shares of Common Stock subscribed | Receivable for shares of Common Stock subscribed | 65481  |
| Prepaid expenses |  | 44373  |
|  |  | **346155224**  |
| **Liabilities ($):** |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(c) | Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(c) | 220983  |
| Payable for shares of Common Stock redeemed | Payable for shares of Common Stock redeemed | 440767  |
| Directors' fees and expenses payable | Directors' fees and expenses payable | 653  |
| Other accrued expenses |  | 77661  |
|  |  | **740064**  |
| **Net Assets ($)** |  | **345415160**  |
| **Composition of Net Assets ($):** |  |  |
| Paid-in capital  |  | 361477076  |
| Total distributable earnings (loss) |  | (16061916) |
| **Net Assets ($)** |  | **345415160**  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value Per Share** | Class A | Class C | Class I | Class Y | Class Z |
| Net Assets ($) | 253884263  | 698838  | 18215741  | 906  | 72615412  |
| Shares Outstanding | 22031154  | 60704  | 1580652  | 78.31  | 6300040  |
| **Net Asset Value Per Share ($)** | 11.52 | 11.51 | 11.52 | 11.57 | 11.53 |
| *See notes to financial statements.* |  |  |  |  |  |

---

#### 19
STATEMENT OF OPERATIONS

Year Ended December 31, 2022

---

| | |
|:---|:---|
| **Investment Income ($):** |  |
| **Interest Income** | **11999304**  |
| **Expenses:** |  |
| Management fee—Note 3(a) | 2200634  |
| Shareholder servicing costs—Note 3(c) | 873437  |
| Professional fees | 89590  |
| Registration fees | 67483  |
| Directors' fees and expenses—Note 3(d) | 24812  |
| Prospectus and shareholders' reports | 21373  |
| Chief Compliance Officer fees—Note 3(c) | 17082  |
| Loan commitment fees—Note 2 | 8035  |
| Custodian fees—Note 3(c) | 6857  |
| Distribution fees—Note 3(b) | 5353  |
| Miscellaneous | 29848  |
| **Total Expenses** | **3344504**  |
| Less—reduction in expenses due to undertaking—Note 3(a) | (403053) |
| Less—reduction in fees due to earnings credits—Note 3(c) | (6252) |
| **Net Expenses** | **2935199**  |
| **Net Investment Income** | **9064105**  |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |
| Net realized gain (loss) on investments | (1602712) |
| Net change in unrealized appreciation (depreciation) on investments | (45951970) |
| **Net Realized and Unrealized Gain (Loss) on Investments** | **(47554682)** |
| **Net (Decrease) in Net Assets Resulting from Operations** | **(38490577)** |
| *See notes to financial statements.* |  |

---

#### 20
STATEMENT OF CHANGES IN NET ASSETS

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31,  | Year Ended December 31,  |
|  | 2022 | 2021 |
| **Operations ($):** |  |  |
| Net investment income | 9064105  | 9543918  |
| Net realized gain (loss) on investments | (1602712) | 1252470  |
| Net change in unrealized appreciation <br> (depreciation) on investments | (45951970) | (3857438) |
| **Net Increase (Decrease) in Net Assets <br> Resulting from Operations** | **(38490577)** | **6938950**  |
| **Distributions ($):** | **Distributions ($):** | **Distributions ($):** |
| Distributions to shareholders: |  |  |
| Class A | (7211185) | (6969480) |
| Class C | (13795) | (18342) |
| Class I | (523033) | (434872) |
| Class Y | (27) | (25) |
| Class Z | (2179544) | (2077200) |
| **Total Distributions** | **(9927584)** | **(9499919)** |
| **Capital Stock Transactions ($):** | **Capital Stock Transactions ($):** | **Capital Stock Transactions ($):** |
| Net proceeds from shares sold: |  |  |
| Class A | 8370709  | 11662637  |
| Class C | 213870  | 131904  |
| Class I | 12029095  | 4929244  |
| Class Z | 1929262  | 4096086  |
| Distributions reinvested: |  |  |
| Class A | 5704297  | 5436509  |
| Class C | 13785  | 17548  |
| Class I | 521209  | 429992  |
| Class Z | 1809143  | 1710406  |
| Cost of shares redeemed: |  |  |
| Class A | (34405427) | (26469676) |
| Class C | (450573) | (817255) |
| Class I | (10534243) | (4129378) |
| Class Z | (7969327) | (6019617) |
| **Increase (Decrease) in Net Assets <br> from Capital Stock Transactions** | **(22768200)** | **(9021600)** |
| **Total Increase (Decrease) in Net Assets** | **(71186361)** | **(11582569)** |
| **Net Assets ($):** | **Net Assets ($):** | **Net Assets ($):** |
| Beginning of Period | 416601521  | 428184090  |
| **End of Period** | **345415160**  | **416601521**  |

---

#### 21
*STATEMENT OF CHANGES IN NET ASSETS (continued)*

---

| | | | |
|:---|:---|:---|:---|
|  |  | Year Ended December 31,  | Year Ended December 31,  |
|  |  | 2022 | 2021 |
| **Capital Share Transactions (Shares):** | **Capital Share Transactions (Shares):** | **Capital Share Transactions (Shares):** | **Capital Share Transactions (Shares):** |
| **Class A<sup>a,b</sup>** | **Class A<sup>a,b</sup>** |  |  |
| Shares sold | Shares sold | 695548  | 887207  |
| Shares issued for distributions reinvested | Shares issued for distributions reinvested | 482258  | 414452  |
| Shares redeemed | Shares redeemed | (2889704) | (2015387) |
| **Net Increase (Decrease) in Shares Outstanding** | **Net Increase (Decrease) in Shares Outstanding** | **(1711898)** | **(713728)** |
| **Class C<sup>a</sup>** | **Class C<sup>a</sup>** |  |  |
| Shares sold | Shares sold | 18497  | 10063  |
| Shares issued for distributions reinvested | Shares issued for distributions reinvested | 1160  | 1339  |
| Shares redeemed | Shares redeemed | (38298) | (62058) |
| **Net Increase (Decrease) in Shares Outstanding** | **Net Increase (Decrease) in Shares Outstanding** | **(18641)** | **(50656)** |
| **Class I** | **Class I** |  |  |
| Shares sold | Shares sold | 1023150  | 375802  |
| Shares issued for distributions reinvested | Shares issued for distributions reinvested | 44159  | 32784  |
| Shares redeemed | Shares redeemed | (905522) | (315064) |
| **Net Increase (Decrease) in Shares Outstanding** | **Net Increase (Decrease) in Shares Outstanding** | **161787**  | **93522**  |
| **Class Z<sup>b</sup>** | **Class Z<sup>b</sup>** |  |  |
| Shares sold | Shares sold | 163160  | 311919  |
| Shares issued for distributions reinvested | Shares issued for distributions reinvested | 152998  | 130385  |
| Shares redeemed | Shares redeemed | (667672) | (458696) |
| **Net Increase (Decrease) in Shares Outstanding** | **Net Increase (Decrease) in Shares Outstanding** | **(351514)** | **(16392)** |
| *<sup>a</sup>* | *During the period ended December 31, 2021, 1,372 Class C shares representing $18,016 were automatically converted to 1,370 Class A shares.* | *During the period ended December 31, 2021, 1,372 Class C shares representing $18,016 were automatically converted to 1,370 Class A shares.* | *During the period ended December 31, 2021, 1,372 Class C shares representing $18,016 were automatically converted to 1,370 Class A shares.* |
| *<sup>b</sup>* | *During the period ended December 31, 2021, 969 Class A shares representing $12,637 were exchanged for 970 Class Z shares.* | *During the period ended December 31, 2021, 969 Class A shares representing $12,637 were exchanged for 970 Class Z shares.* | *During the period ended December 31, 2021, 969 Class A shares representing $12,637 were exchanged for 970 Class Z shares.* |
| *See notes to financial statements.* | *See notes to financial statements.* |  |  |

---

#### 22
FINANCIAL HIGHLIGHTS

The following tables describe the performance for each share class for the fiscal periods indicated. All information (except portfolio turnover rate) reflects financial results for a single fund share. Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. These figures have been derived from the fund's financial statements.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, |
| **Class A Shares** | 2022 | 2021 | 2020 | 2019 | 2018 |
| **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 13.06 | 13.14 | 12.95 | 12.53 | 12.95 |
| Investment Operations: |  |  |  |  |  |
| Net investment income<sup>a</sup> | .29 | .29 | .32 | .36 | .39 |
| Net realized and unrealized<br> gain (loss) on investments | (1.51) | (.08) | .21 | .49 | (.25) |
| Total from Investment Operations | (1.22) | .21 | .53 | .85 | .14 |
| Distributions: |  |  |  |  |  |
| Dividends from net<br>investment income | (.29) | (.29) | (.32) | (.36) | (.39) |
| Dividends from net realized <br>gain on investments | (.03) | - | (.02) | (.07) | (.17) |
| Total Distributions | (.32) | (.29) | (.34) | (.43) | (.56) |
| Net asset value, end of period | 11.52 | 13.06 | 13.14 | 12.95 | 12.53 |
| **Total Return (%)<sup>b</sup>** | (9.41) | 1.60 | 4.15 | 6.82 | 1.17 |
| **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to<br> average net assets | .96 | .95 | .95 | .95 | .95 |
| Ratio of net expenses to<br> average net assets | .85 | .85 | .85 | .85 | .85 |
| Ratio of net investment income<br> to average net assets | 2.42 | 2.21 | 2.46 | 2.80 | 3.09 |
| Portfolio Turnover Rate | 8.56 | 10.36 | 14.13 | 17.36 | 13.71 |
| Net Assets, end of period ($ x 1,000) | 253884 | 310130 | 321410 | 327410 | 317888 |

---

*<sup>a</sup> Based on average shares outstanding.*

*<sup>b</sup> Exclusive of sales charge.*

*See notes to financial statements.*

#### 23
*FINANCIAL HIGHLIGHTS (continued)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, |
| **Class C Shares** | 2022 | 2021 | 2020 | 2019 | 2018 |
| **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 13.05 | 13.13 | 12.93 | 12.51 | 12.93 |
| Investment Operations: |  |  |  |  |  |
| Net investment income<sup>a</sup> | .19 | .19 | .22 | .26 | .30 |
| Net realized and unrealized<br> gain (loss) on investments | (1.50) | (.08) | .22 | .49 | (.26) |
| Total from Investment Operations | (1.31) | .11 | .44 | .75 | .04 |
| Distributions: |  |  |  |  |  |
| Dividends from net<br>investment income | (.20) | (.19) | (.22) | (.26) | (.29) |
| Dividends from net realized <br>gain on investments | (.03) | - | (.02) | (.07) | (.17) |
| Total Distributions | (.23) | (.19) | (.24) | (.33) | (.46) |
| Net asset value, end of period | 11.51 | 13.05 | 13.13 | 12.93 | 12.51 |
| **Total Return (%)<sup>b</sup>** | (10.10) | .84 | 3.45 | 6.04 | .34 |
| **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to<br> average net assets | 1.92 | 1.84 | 1.79 | 1.76 | 1.75 |
| Ratio of net expenses to<br> average net assets | 1.60 | 1.60 | 1.60 | 1.60 | 1.60 |
| Ratio of net investment income<br> to average net assets | 1.65 | 1.46 | 1.74 | 2.06 | 2.35 |
| Portfolio Turnover Rate | 8.56 | 10.36 | 14.13 | 17.36 | 13.71 |
| Net Assets, end of period ($ x 1,000) | 699 | 1035 | 1707 | 3619 | 4493 |

---

*<sup>a</sup> Based on average shares outstanding.*

*<sup>b</sup> Exclusive of sales charge.*

*See notes to financial statements.*

#### 24

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, |
| **Class I Shares** | 2022 | 2021 | 2020 | 2019 | 2018 |
| **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 13.06 | 13.14 | 12.95 | 12.53 | 12.95 |
| Investment Operations: |  |  |  |  |  |
| Net investment income<sup>a</sup> | .32 | .32 | .35 | .39 | .42 |
| Net realized and unrealized<br> gain (loss) on investments | (1.51) | (.08) | .21 | .49 | (.25) |
| Total from Investment Operations | (1.19) | .24 | .56 | .88 | .17 |
| Distributions: |  |  |  |  |  |
| Dividends from net<br> investment income | (.32) | (.32) | (.35) | (.39) | (.42) |
| Dividends from net realized <br>gain on investments | (.03) | - | (.02) | (.07) | (.17) |
| Total Distributions | (.35) | (.32) | (.37) | (.46) | (.59) |
| Net asset value, end of period | 11.52 | 13.06 | 13.14 | 12.95 | 12.53 |
| **Total Return (%)** | (9.18) | 1.85 | 4.41 | 7.09 | 1.36 |
| **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to<br> average net assets | .72 | .72 | .72 | .73 | .72 |
| Ratio of net expenses to<br> average net assets | .60 | .60 | .60 | .60 | .60 |
| Ratio of net investment income<br> to average net assets | 2.66 | 2.45 | 2.71 | 3.04 | 3.35 |
| Portfolio Turnover Rate | 8.56 | 10.36 | 14.13 | 17.36 | 13.71 |
| Net Assets, end of period ($ x 1,000) | 18216 | 18535 | 17419 | 15642 | 12576 |

---

*<sup>a</sup> Based on average shares outstanding.*

*See notes to financial statements.*

#### 25
*FINANCIAL HIGHLIGHTS (continued)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Year Ended December 31, |
| **Class Y Shares** | 2022 | 2021 | 2020 | 2019 | 2018 |
| **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 13.11 | 13.19 | 13.00 | 12.58 | 12.99 |
| Investment Operations: |  |  |  |  |  |
| Net investment income<sup>a</sup> | .32 | .32 | .35 | .39 | .43 |
| Net realized and unrealized<br> gain (loss) on investments | (1.51) | (.08) | .20 | .49 | (.25) |
| Total from Investment Operations | (1.19) | .24 | .55 | .88 | .18 |
| Distributions: |  |  |  |  |  |
| Dividends from net <br>investment income | (.32) | (.32) | (.34) | (.39) | (.42) |
| Dividends from net realized<br>gain on investments | (.03) | - | (.02) | (.07) | (.17) |
| Total Distributions | (.35) | (.32) | (.36) | (.46) | (.59) |
| Net asset value, end of period | 11.57 | 13.11 | 13.19 | 13.00 | 12.58 |
| **Total Return (%)** | (9.08) | 1.75 | 4.43 | 7.07 | 1.50 |
| **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to<br> average net assets | .72 | 1.49 | .76 | .71 | .75 |
| Ratio of net expenses to<br> average net assets | .60 | .60 | .60 | .60 | .60 |
| Ratio of net investment income<br> to average net assets | 2.70 | 2.42 | 2.81 | 3.04 | 3.30 |
| Portfolio Turnover Rate | 8.56 | 10.36 | 14.13 | 17.36 | 13.71 |
| Net Assets, end of period ($ x 1,000) | 1 | 1 | 1 | 133 | 105 |

---

*<sup>a</sup> Based on average shares outstanding.*

*See notes to financial statements.*

#### 26

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, |
| **Class Z Shares** | 2022 | 2021 | 2020 | 2019 | 2018 |
| **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 13.06 | 13.14 | 12.95 | 12.53 | 12.95 |
| Investment Operations: |  |  |  |  |  |
| Net investment income<sup>a</sup> | .31 | .31 | .35 | .39 | .42 |
| Net realized and unrealized<br> gain (loss) on investments | (1.50) | (.08) | .20 | .49 | (.25) |
| Total from Investment Operations | (1.19) | .23 | .55 | .88 | .17 |
| Distributions: |  |  |  |  |  |
| Dividends from net<br>investment income | (.31) | (.31) | (.34) | (.39) | (.42) |
| Dividends from net realized <br>gain on investments | (.03) | - | (.02) | (.07) | (.17) |
| Total Distributions | (.34) | (.31) | (.36) | (.46) | (.59) |
| Net asset value, end of period | 11.53 | 13.06 | 13.14 | 12.95 | 12.53 |
| **Total Return (%)** | (9.15) | 1.79 | 4.38 | 7.07 | 1.31 |
| **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to<br> average net assets | .78 | .77 | .76 | .77 | .76 |
| Ratio of net expenses to<br> average net assets | .66 | .66 | .65 | .65 | .65 |
| Ratio of net investment income<br> to average net assets | 2.62 | 2.39 | 2.69 | 3.04 | 3.31 |
| Portfolio Turnover Rate | 8.56 | 10.36 | 14.13 | 17.36 | 13.71 |
| Net Assets, end of period ($ x 1,000) | 72615 | 86900 | 87648 | 89765 | 91648 |

---

*<sup>a</sup> Based on average shares outstanding.*

*See notes to financial statements.*

#### 27
NOTES TO FINANCIAL STATEMENTS

#### NOTE 1—Significant Accounting Policies:
BNY Mellon New Jersey Municipal Bond Fund, Inc. (the "fund"), which is registered under the Investment Company Act of 1940, as amended (the "Act"), is a non-diversified open-end management investment company. The fund's investment objective is to seek as high a level of current income exempt from federal and New Jersey income taxes as is consistent with the preservation of capital. BNY Mellon Investment Adviser, Inc. (the "Adviser"), a wholly-owned subsidiary of The Bank of New York Mellon Corporation ("BNY Mellon"), serves as the fund's investment adviser. Insight North America LLC (the "Sub-Adviser"), a wholly-owned subsidiary of BNY Mellon and an affiliate of the Adviser, serves as the fund's sub-adviser.

BNY Mellon Securities Corporation (the "Distributor"), a wholly-owned subsidiary of the Adviser, is the distributor of the fund's shares. The fund is authorized to issue 775 million shares of $.001 par value Common Stock. The fund currently has authorized five classes of shares: Class A (200 million shares authorized), Class C (150 million shares authorized), Class I (150 million shares authorized), Class Y (150 million shares authorized) and Class Z (125 million shares authorized). Class A and Class C shares are sold primarily to retail investors through financial intermediaries and bear Distribution and/or Shareholder Services Plan fees. Class A shares generally are subject to a sales charge imposed at the time of purchase. Class A shares bought without an initial sales charge as part of an investment of $1 million or more may be charged a contingent deferred sales charge ("CDSC") of 1.00% if redeemed within one year. Class C shares are subject to a CDSC imposed on Class C shares redeemed within one year of purchase. Class C shares automatically convert to Class A shares eight years after the date of purchase, without the imposition of a sales charge. Class I shares are sold primarily to bank trust departments and other financial service providers (including BNY Mellon and its affiliates), acting on behalf of customers having a qualified trust or an investment account or relationship at such institution, and bear no Distribution or Shareholder Services Plan fees. Class Y shares are sold at net asset value per share generally to institutional investors, and bear no Distribution or Shareholder Services Plan fees. Class Z shares are sold at net asset value per share to certain shareholders of the fund. Class Z shares generally are not available for new accounts and bear Shareholder Services Plan fees. Class I, Class Y and Class Z shares are offered without a front-end sales charge or CDSC. Other differences between the classes include the services offered to and the expenses borne by each class, the allocation of certain transfer agency costs and certain voting rights. Income, expenses

#### 28
(other than expenses attributable to a specific class), and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative net assets.

As of December 31, 2022, MBC Investments Corporation, an indirect subsidiary of BNY Mellon, held all of the outstanding Class Y shares of the fund.

The Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") is the exclusive reference of authoritative U.S. generally accepted accounting principles ("GAAP") recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

The fund enters into contracts that contain a variety of indemnifications. The fund's maximum exposure under these arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements.

**(a) Portfolio valuation:** The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund's investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

**Level 1**—unadjusted quoted prices in active markets for identical investments.

#### 29
NOTES TO FINANCIAL STATEMENTS *(continued)*

**Level 2**—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

**Level 3**—significant unobservable inputs (including the fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund's investments are as follows:

The fund's Board of Directors (the "Board") has designated the Adviser as the fund's valuation designee, effective September 8, 2022, to make all fair value determinations with respect to the fund's portfolio investments, subject to the Board's oversight and pursuant to Rule 2a-5 under the Act.

Investments in municipal securities are valued each business day by an independent pricing service (the "Service") approved by the Board. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Municipal investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Service is engaged under the general oversight of the Board. All of the preceding securities are generally categorized within Level 2 of the fair value hierarchy.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers.

#### 30
These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

The following is a summary of the inputs used as of December 31, 2022 in valuing the fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Level 1-Unadjusted Quoted Prices | Level 2- Other Significant Observable Inputs | Level 3-Significant Unobservable Inputs | **Total** |
| **Assets ($)** | **Assets ($)** | **Assets ($)** | **Assets ($)** |  |
| Investments in Securities:<sup>†</sup> | Investments in Securities:<sup>†</sup> | Investments in Securities:<sup>†</sup> | Investments in Securities:<sup>†</sup> |  |
| Municipal Securities | - | 338592695 | - | **338592695** |

---

*<sup>†</sup> See Statement of Investments for additional detailed categorizations, if any.*

**(b) Securities transactions and investment income:** Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the identified cost basis. Interest income, adjusted for accretion of discount and amortization of premium on investments, is earned from settlement date and recognized on the accrual basis. Securities purchased or sold on a when-issued or delayed delivery basis may be settled a month or more after the trade date.

The fund follows an investment policy of investing primarily in municipal obligations of one state. Economic changes affecting the state and certain of its public bodies and municipalities may affect the ability of issuers within the state to pay interest on, or repay principal of, municipal obligations held by the fund.

**(c) Market Risk:** The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. The value of a security may also decline due to general market conditions that are not specifically related to a particular company or industry, such as real or perceived adverse economic conditions, changes in the general outlook for corporate earnings, changes in interest or currency rates, changes to inflation, adverse changes to credit markets or adverse investor sentiment generally. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country,

#### 31
NOTES TO FINANCIAL STATEMENTS *(continued)*

region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies world-wide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken world-wide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff.

**Municipal Securities Risk**: The amount of public information available about municipal securities is generally less than that for corporate equities or bonds. Special factors, such as legislative changes, and state and local economic and business developments, may adversely affect the yield and/or value of the fund's investments in municipal securities. Other factors include the general conditions of the municipal securities market, the size of the particular offering, the maturity of the obligation and the rating of the issue. Changes in economic, business or political conditions relating to a particular municipal project, municipality, or state, territory or possession of the United States in which the fund invests may have an impact on the fund's share price. As an example, elevated costs or shortfalls in revenue associated with the spread of the COVID-19 outbreak could affect the ability of municipal issuers to make payments on debt obligations when due. Any such credit impairment could adversely impact the value of their bonds, which could negatively impact the performance of the fund.

**Non-Diversification Risk:** The fund is non-diversified, which means that the fund may invest a relatively high percentage of its assets in a limited number of issuers. Therefore, the fund's performance may be more vulnerable to changes in the market value of a single issuer or group of issuers and more susceptible to risks associated with a single economic, political or regulatory occurrence than a diversified fund.

**(d) Dividends and distributions to shareholders:** It is the policy of the fund to declare dividends daily from net investment income. Such dividends are paid monthly. Dividends from net realized capital gains, if any, are normally declared and paid annually, but the fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (the "Code"). To the extent that net realized capital gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

#### 32
**(e) Federal income taxes:** It is the policy of the fund to continue to qualify as a regulated investment company, which can distribute tax-exempt dividends, by complying with the applicable provisions of the Code, and to make distributions of income and net realized capital gain sufficient to relieve it from substantially all federal income and excise taxes.

As of and during the period ended December 31, 2022, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended December 31, 2022, the fund did not incur any interest or penalties.

Each tax year in the four-year period ended December 31, 2022 remains subject to examination by the Internal Revenue Service and state taxing authorities.

At December 31, 2022, the components of accumulated earnings on a tax basis were as follows: undistributed tax-exempt income $1,132,574, accumulated capital losses $1,602,712 and unrealized depreciation $15,591,778.

The fund is permitted to carry forward capital losses for an unlimited period. Furthermore, capital loss carryovers retain their character as either short-term or long-term capital losses.

The accumulated capital loss carryover is available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to December 31, 2022. The fund has $28,095 of short-term capital losses and $1,574,617 of long-term capital losses which can be carried forward for an unlimited period.

The tax character of distributions paid to shareholders during the fiscal years ended December 31, 2022 and December 31, 2021 were as follows: tax-exempt income $9,008,005 and $9,499,919, ordinary income $214 and $0 and long term capital gains $919,365 and $0, respectively.

**(f) New accounting pronouncements:** In 2020, the FASB issued Accounting Standards Update No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting.

The objective of the guidance in Topic 848 is to provide temporary relief during the transition period. The FASB included a sunset provision within Topic 848 based on expectations of when the LIBOR would cease being published. At the time that Update 2020-04 was issued, the UK Financial

#### 33
NOTES TO FINANCIAL STATEMENTS *(continued)*

Conduct Authority (FCA) had established its intent that it would no longer be necessary to persuade, or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set for December 31, 2022—12 months after the expected cessation date of all currencies and tenors of LIBOR.

In March 2021, the FCA announced that the intended cessation date of the overnight 1-, 3-, 6-, and 12-month tenors of USD LIBOR would be June 30, 2023, which is beyond the current sunset date of Topic 848.

Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024 ("FASB Sunset Date"), after which entities will no longer be permitted to apply the relief in Topic 848.

Management had evaluated the impact of Topic 848 on the fund's investments, derivatives, debt and other contracts that will undergo reference rate-related modifications as a result of the Reference Rate Reform. Management has no concerns in adopting Topic 848 by FASB Sunset Date. Management will continue to work with other financial institutions and counterparties to modify contracts as required by applicable regulation and within the regulatory deadlines. As of December 31, 2022, management believes these accounting standards have no impact on the fund and does not have any concerns of adopting the regulations by FASB Sunset Date.

#### NOTE 2—Bank Lines of Credit:
The fund participates with other long-term open-end funds managed by the Adviser in a $823.5 million unsecured credit facility led by Citibank, N.A. (the "Citibank Credit Facility") and a $300 million unsecured credit facility provided by BNY Mellon (the "BNYM Credit Facility"), each to be utilized primarily for temporary or emergency purposes, including the financing of redemptions (each, a "Facility"). The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $688.5 million and is available to all long-term open-ended funds, including the fund, and (ii) Tranche B is an amount equal to $135 million and is available only to BNY Mellon Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNYM Credit Facility. Interest is charged to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended December 31, 2022, the fund did not borrow under the Facilities.

#### 34

#### NOTE 3—Management Fee, Sub-Advisory Fee and Other Transactions with Affiliates:
**(a)** Pursuant to a management agreement with the Adviser, the management fee is computed at the annual rate of .60% of the value of the fund's average daily net assets and is payable monthly. The Adviser has contractually agreed, from January 1, 2022 through April 29, 2023, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of the fund's classes (excluding Rule 12b-1 Distribution Plan fees, Shareholder Services Plan fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .60% of the value of the fund's average daily net assets. On or after April 29, 2023, the Adviser may terminate this expense limitation agreement at any time. The reduction in expenses, pursuant to the undertaking, amounted to $403,053 during the period ended December 31, 2022.

Pursuant to a sub-investment advisory agreement between the Adviser and the Sub-Adviser, the Adviser pays the Sub-Adviser a monthly fee at an annual rate of .288% of the value of the fund's average daily net assets.

During the period ended December 31, 2022, the Distributor retained $594 from commissions earned on sales of the fund's Class A shares.

**(b)** Under the Distribution Plan adopted pursuant to Rule 12b-1 under the Act, Class C shares pay the Distributor for distributing its shares at an annual rate of .75% of the value of its average daily net assets. The Distributor may pay one or more Service Agents in respect of advertising, marketing and other distribution services, and determines the amounts, if any, to be paid to Service Agents and the basis on which such payments are made. During the period ended December 31, 2022, Class C shares were charged $5,353 pursuant to the Distribution Plan.

**(c)** Under the Shareholder Services Plan, Class A and Class C shares pay the Distributor at an annual rate of .25% of the value of their average daily net assets for the provision of certain services. The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding the fund, and services related to the maintenance of shareholder accounts. The Distributor may make payments to Service Agents (securities dealers, financial institutions or other industry professionals) with respect to these services. The Distributor determines the amounts to be paid to Service Agents. During the period ended December 31, 2022, Class A and Class C shares were charged $678,704 and $1,784, respectively, pursuant to the Shareholder Services Plan.

#### 35
NOTES TO FINANCIAL STATEMENTS *(continued)*

Under the Shareholder Services Plan, Class Z shares reimburse the Distributor at an amount not to exceed an annual rate of .25% of the value of Class Z shares' average daily net assets for certain allocated expenses of providing personal services and/or maintaining shareholder accounts. The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding Class Z shares, and services related to the maintenance of shareholder accounts. During the period ended December 31, 2022, Class Z shares were charged $47,284 pursuant to the Shareholder Services Plan.

The fund has arrangements with BNY Mellon Transfer, Inc., (the "Transfer Agent") and The Bank of New York Mellon (the "Custodian"), both a subsidiary of BNY Mellon and an affiliate of the Adviser, whereby the fund may receive earnings credits when positive cash balances are maintained, which are used to offset Transfer Agent and Custodian fees. For financial reporting purposes, the fund includes transfer agent net earnings credits, if any, and custody net earnings credits, if any, as an expense offset in the Statement of Operations.

The fund compensates the Transfer Agent, under a transfer agency agreement, for providing transfer agency and cash management services for the fund. The majority of Transfer Agent fees are comprised of amounts paid on a per account basis, while cash management fees are related to fund subscriptions and redemptions. During the period ended December 31, 2022, the fund was charged $92,863 for transfer agency services. These fees are included in Shareholder servicing costs in the Statement of Operations. These fees were partially offset by earnings credits of $5,256.

The fund compensates the Custodian, under a custody agreement, for providing custodial services for the fund. These fees are determined based on net assets, geographic region and transaction activity. During the period ended December 31, 2022, the fund was charged $6,857 pursuant to the custody agreement. These fees were partially offset by earnings credits of $996.

The fund compensates the Custodian, under a shareholder redemption draft processing agreement, for providing certain services related to the fund's check writing privilege. During the period ended December 31, 2022, the fund was charged $5,213 pursuant to the agreement, which is included in Shareholder servicing costs in the Statement of Operations.

During the period ended December 31, 2022, the fund was charged $17,082 for services performed by the fund's Chief Compliance Officer

#### 36
and his staff. These fees are included in Chief Compliance Officer fees in the Statement of Operations.

The components of "Due to BNY Mellon Investment Adviser, Inc. and affiliates" in the Statement of Assets and Liabilities consist of: management fee of $177,299, Distribution Plan fees of $333, Shareholder Services Plan fees of $54,482, Custodian fees of $3,210, Chief Compliance Officer fees of $4,082 and Transfer Agent fees of $14,067, which are offset against an expense reimbursement currently in effect in the amount of $32,490.

**(d)** Each board member also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets.

#### NOTE 4—Securities Transactions:
The aggregate amount of purchases and sales of investment securities, excluding short-term securities, during the period ended December 31, 2022, amounted to $31,046,054 and $53,791,208, respectively.

At December 31, 2022, the cost of investments for federal income tax purposes was $354,184,473; accordingly, accumulated net unrealized depreciation on investments was $15,591,778, consisting of $3,020,612 gross unrealized appreciation and $18,612,390 gross unrealized depreciation.

#### 37

#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders and the Board of Directors of BNY Mellon New Jersey Municipal Bond Fund, Inc.

*Opinion on the Financial Statements*

We have audited the accompanying statement of assets and liabilities of BNY Mellon New Jersey Municipal Bond Fund, Inc. (the "Fund"), including the statement of investments, as of December 31, 2022, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund at December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and its financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

*Basis for Opinion*

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of the Fund's internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

![](img_2faf01d9418c4.jpg)

We have served as the auditor of one or more investment companies in the BNY Mellon Family of Funds since at least 1957, but we are unable to determine the specific year.

New York, New York<br>February 22, 2023

#### 38
IMPORTANT TAX INFORMATION (Unaudited)

In accordance with federal tax law, the fund hereby reports all the dividends paid from net investment income during the fiscal year ended December 31, 2022 as "exempt-interest dividends" (not subject to regular federal and, for individuals who are New Jersey residents, New Jersey personal income taxes). Where required by federal tax law rules, shareholders will receive notification of their portion of the fund's taxable ordinary dividends (if any), capital gains distributions (if any) and tax-exempt dividends paid for the 2022 calendar year on Form 1099-DIV, which will be mailed in early 2023. Also, the fund hereby reports $.0295 per share as a long-term capital gain distribution paid on March 29, 2022.

#### 39
BOARD MEMBERS INFORMATION (Unaudited)

*Independent Board Members*

#### Joseph S. DiMartino (79)

#### Chairman of the Board (1995)
*Principal Occupation During Past 5 Years:*

· Director or Trustee of funds in the BNY Mellon Family of Funds and certain other entities (as described in the fund's Statement of Additional Information) (1995-Present)

*Other Public Company Board Memberships During Past 5 Years:*

· CBIZ, Inc., a public company providing professional business services, products and solutions, *Director* (1997-Present)

*No. of Portfolios for which Board Member Serves:* 92*

———————

#### Peggy C. Davis (79)

#### Board Member (2012)
*Principal Occupation During Past 5 Years:*

· Shad Professor of Law, New York University School of Law (1983-Present)

*No. of Portfolios for which Board Member Serves:* 32

———————

#### Gina D. France (64)

#### Board Member (2019)
*Principal Occupation During Past 5 Years:*

· France Strategic Partners, a strategy and advisory firm serving corporate clients across the United States, *Founder, President and Chief Executive Officer* (2003-Present)

*Other Public Company Board Memberships During Past 5 Years:*

· Huntington Bancshares, a bank holding company headquartered in Columbus, Ohio, *Director* (2016-Present)

· Cedar Fair, L.P., a publicly-traded partnership that owns and operates amusement parks and hotels in the U.S. and Canada, *Director* (2011-Present)

· CBIZ, Inc., a public company providing professional business services, products and solutions, *Director* (2015-Present)

· FirstMerit Corporation, a diversified financial services company, *Director* (2004-2016)

*No. of Portfolios for which Board Member Serves:* 22*

———————

#### 40

#### Joan Gulley (75)

#### Board Member (2017)
*Principal Occupation During Past 5 Years:*

· Nantucket Atheneum, public library, *Chair* (2018-June 2021) and *Director* (2015-June 2021)

· Orchard Island Club, golf and beach club, *Governor* (2016-Present)

*No. of Portfolios for which Board Member Serves:* 39*

———————

#### Robin A. Melvin (59)

#### Board Member (2011)
*Principal Occupation During Past 5 Years:*

· Westover School, a private girls' boarding school in Middlebury, Connecticut, *Trustee* (2019-Present)

· Mentor Illinois, a non-profit organization dedicated to increasing the quality of mentoring services in Illinois, *Co-Chair* (2014–2020); *Board Member*, Mentor Illinois (2013-2020)

· JDRF, a non-profit juvenile diabetes research foundation, *Board Member* (June 2021-June 2022)

*Other Public Company Board Memberships During Past 5 Years:*

· HPS Corporate Lending Fund, a closed-end management investment company regulated as a business development company, *Trustee* (August 2021-Present)

*No. of Portfolios for which Board Member Serves:* 71*

———————

#### Michael D. DiLecce (60)

#### Advisory Board Member (2022)
*Principal Occupation During Past 5 Years:*

· Retired since July 2022. Global Asset Management Assurance Leader, Ernst & Young LLP (2015-2022)

· Americas Regional Talent Managing Partner for Ernst & Young's Financial Service Practice (2017-2021)

· Partner, Ernst & Young LLP (1997-2022)

*No. of Portfolios for which Board Member Serves:* 22*

———————

*The address of the Board Members and Officers is c/o BNY Mellon Investment Adviser, Inc., 240 Greenwich Street, New York, New York 10286. Additional information about each Board Member is available in the fund's Statement of Additional Information which can be obtained from the Adviser free of charge by calling this toll free number: 1-800-373-9387.*

#### 41
OFFICERS OF THE FUND (Unaudited)

#### DAVID DIPETRILLO, President since January 2021.
Vice President and Director of the Adviser since February 2021; Head of North America Product, BNY Mellon Investment Management since January 2018; and Director of Product Strategy, BNY Mellon Investment Management from January 2016 to December 2017. He is an officer of 54 investment companies (comprised of 107 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 44 years old and has been an employee of BNY Mellon since 2005.

#### JAMES WINDELS, Treasurer since November 2001.
Vice President of the Adviser since September 2020; and Director–BNY Mellon Fund Administration. He is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 64 years old and has been an employee of the Adviser since April 1985.

#### PETER M. SULLIVAN, Chief Legal Officer since July 2021 and Vice President and Assistant Secretary since March 2019.
Chief Legal Officer of the Adviser and Associate General Counsel of BNY Mellon since July 2021; Senior Managing Counsel of BNY Mellon from December 2020 to July 2021; and Managing Counsel of BNY Mellon from March 2009 to December 2020. He is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 54 years old and has been an employee of BNY Mellon since April 2004.

#### JAMES BITETTO, Vice President since August 2005 and Secretary since February 2018.
Senior Managing Counsel of BNY Mellon since December 2019; Managing Counsel of BNY Mellon from April 2014 to December 2019; and Secretary of the Adviser. He is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 56 years old and has been an employee of the Adviser since December 1996.

#### DEIRDRE CUNNANE, Vice President and Assistant Secretary since March 2019.
Managing Counsel of BNY Mellon since December 2021, Counsel of BNY Mellon from August 2018 to December 2021; and Senior Regulatory Specialist at BNY Mellon Investment Management Services from February 2016 to August 2018. She is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. She is 32 years old and has been an employee of the Adviser since August 2018.

#### SARAH S. KELLEHER, Vice President and Assistant Secretary since April 2014.
Vice President of BNY Mellon ETF Investment Adviser; LLC since February 2020; Senior Managing Counsel of BNY Mellon since September 2021; Managing Counsel of BNY Mellon from December 2017 to September 2021; and Senior Counsel of BNY Mellon from March 2013 to December 2017. She is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. She is 47 years old and has been an employee of the Adviser since March 2013.

#### JEFF PRUSNOFSKY, Vice President and Assistant Secretary since August 2005.
Senior Managing Counsel of BNY Mellon. He is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 57 years old and has been an employee of the Adviser since October 1990.

#### AMANDA QUINN, Vice President and Assistant Secretary since March 2020.
Counsel of BNY Mellon since June 2019; Regulatory Administration Manager at BNY Mellon Investment Management Services from September 2018 to May 2019; and Senior Regulatory Specialist at BNY Mellon Investment Management Services from April 2015 to August 2018. She is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. She is 37 years old and has been an employee of the Adviser since June 2019.

#### 42

#### NATALYA ZELENSKY, Vice President and Assistant Secretary since March 2017.
Chief Compliance Officer since August 2021 and Vice President since February 2020 of BNY Mellon ETF Investment Adviser, LLC; Chief Compliance Officer since August 2021 and Vice President and Assistant Secretary since February 2020 of BNY Mellon ETF Trust; Managing Counsel of BNY Mellon from December 2019 to August 2021; Counsel of BNY Mellon from May 2016 to December 2019; and Assistant Secretary of the Adviser from April 2018 to August 2021. She is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. She is 37 years old and has been an employee of BNY Mellon since May 2016.

#### DANIEL GOLDSTEIN, Vice President since March 2022.
Vice President and Head of Product Development of North America Product, BNY Mellon Investment Management since January 2018; Co-Head of Product Management, Development & Oversight of North America Product, BNY Mellon Investment Management from January 2010 to January 2018; and Senior Vice President, Development & Oversight of North America Product, BNY Mellon Investment Management since 2010. He is an officer of 54 investment companies (comprised of 107 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 53 years old and has been an employee of the Distributor since 1991.

#### JOSEPH MARTELLA, Vice President since March 2022.
Vice President of the Adviser since December 2022, Head of Product Management of North America Product, BNY Mellon Investment Management since January 2018; Director of Product Research and Analytics of North America Product, BNY Mellon Investment Management from January 2010 to January 2018; and Senior Vice President of North America Product, BNY Mellon Investment Management since 2010. He is an officer of 54 investment companies (comprised of 107 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 46 years old and has been an employee of the Distributor since 1999.

#### GAVIN C. REILLY, Assistant Treasurer since December 2005.
Tax Manager–BNY Mellon Fund Administration. He is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 54 years old and has been an employee of the Adviser since April 1991.

#### ROBERT SALVIOLO, Assistant Treasurer since July 2007.
Senior Accounting Manager–BNY Mellon Fund Administration. He is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 55 years old and has been an employee of the Adviser since June 1989.

#### ROBERT SVAGNA, Assistant Treasurer since August 2002.
Senior Accounting Manager–BNY Mellon Fund Administration. He is an officer of 55 investment companies (comprised of 127 portfolios) managed by the Adviser or an affiliate of the Adviser. He is 55 years old and has been an employee of the Adviser since November 1990.

#### JOSEPH W. CONNOLLY, Chief Compliance Officer since October 2004.
Chief Compliance Officer of the BNY Mellon Family of Funds and BNY Mellon Funds Trust since 2004; and Chief Compliance Officer of the Adviser from 2004 until June 2021. He is the Chief Compliance Officer of 54 investment companies (comprised of 112 portfolios) managed by the Adviser. He is 65 years old.

#### CARIDAD M. CAROSELLA, Anti-Money Laundering Compliance Officer since January 2016.
Anti-Money Laundering Compliance Officer of the BNY Mellon Family of Funds and BNY Mellon Funds Trust. She is an officer of 48 investment companies (comprised of 120 portfolios) managed by the Adviser or an affiliate of the Adviser. She is 54 years old and has been an employee of the Distributor since 1997.

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For More Information

#### BNY Mellon New Jersey Municipal Bond Fund, Inc.
240 Greenwich Street

New York, NY 10286

#### Adviser
BNY Mellon Investment Adviser, Inc.

240 Greenwich Street

New York, NY 10286

#### Sub-Adviser
Insight North America LLC <br>200 Park Avenue, 7<sup>th</sup> Floor

New York, NY 10166

#### Custodian
The Bank of New York Mellon

240 Greenwich Street

New York, NY 10286

#### Transfer Agent & <br> Dividend Disbursing Agent
BNY Mellon Transfer, Inc.

240 Greenwich Street

New York, NY 10286

#### Distributor
BNY Mellon Securities Corporation

240 Greenwich Street

New York, NY 10286

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| **Ticker Symbols:** | Class A: DRNJX Class C: DCNJX Class I: DNMIX<br>Class Y: DNJYX Class Z: DZNJX |

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**Telephone** Call your financial representative or 1-800-373-9387

**Mail** The BNY Mellon Family of Funds, 144 Glenn Curtiss Boulevard, Uniondale, NY 11556-0144

**E-mail** Send your request to info@bnymellon.com

#### Internet Information can be viewed online or downloaded at www.im.bnymellon.com
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission ("SEC") for the first and third quarters of each fiscal year on Form N-PORT. The fund's Forms N-PORT are available on the SEC's website at <u>www.sec.gov</u>.

A description of the policies and procedures that the fund uses to determine how to vote proxies relating to portfolio securities and information regarding how the fund voted these proxies for the most recent 12-month period ended June 30 is available at www.im.bnymellon.com and on the SEC's website at www.sec.gov and without charge, upon request, by calling 1-800-373-9387.

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|:---|:---|
|© 2023 BNY Mellon Securities Corporation<br>0750AR1222 | ![](img_d1911320dcbf4.jpg) |

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**Item 2. Code of Ethics.**

The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There have been no amendments to, or waivers in connection with, the Code of Ethics during the period covered by this Report.

**Item 3. Audit Committee Financial Expert.**

The Registrant's Board has determined that Ms. Gina France, a member of the Audit Committee of the Board, is an audit committee financial expert as defined by the Securities and Exchange Commission (the "SEC"). Ms. France is "independent" as defined by the SEC for purposes of audit committee financial expert determinations.

**Item 4. Principal Accountant Fees and Services.**

(a) <u>Audit Fees</u>. The aggregate fees billed for each of the last two fiscal years (the "Reporting Periods") for professional services rendered by the Registrant's principal accountant (the "Auditor") for the audit of the Registrant's annual financial statements or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods, were $35,494 in 2021 and $36,204 in 2022.

(b) <u>Audit-Related Fees</u>. The aggregate fees billed in the Reporting Periods for assurance and related services by the Auditor that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item 4 were $11,095 in 2021 and $10,926 in 2022. These services consisted of one or more of the following: (i) agreed upon procedures related to compliance with Internal Revenue Code section 817(h), (ii) security counts required by Rule 17f-2 under the Investment Company Act of 1940, as amended, (iii) advisory services as to the accounting or disclosure treatment of Registrant transactions or events and (iv) advisory services to the accounting or disclosure treatment of the actual or potential impact to the Registrant of final or proposed rules, standards or interpretations by the Securities and Exchange Commission, the Financial Accounting Standards Boards or other regulatory or standard-setting bodies.

The aggregate fees billed in the Reporting Periods for non-audit assurance and related services by the Auditor to the Registrant's investment adviser (not including any sub-investment adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant ("Service Affiliates"), that were reasonably related to the performance of the annual audit of the Service Affiliate, which required pre-approval by the Audit Committee were $0 in 2021 and $0 in 2022.

(c) <u>Tax Fees</u>. The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice, and tax planning ("Tax Services") were $3,342 in 2021 and $3,342 in 2022. These services consisted of: (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local tax planning, advice and assistance regarding statutory, regulatory or administrative developments; (iii) tax advice regarding tax qualification matters and/or treatment of various financial instruments held or proposed to be acquired or held, and (iv) determination of Passive Foreign Investment Companies. The aggregate fees billed in the Reporting Periods for Tax Services by the Auditor to Service Affiliates, which required pre-approval by the Audit Committee were $8,158 in 2021 and $8,158 in 2022.

(d) <u>All Other Fees</u>. The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor, other than the services reported in paragraphs (a) through (c) of this Item, were $3,092 in 2021 and $1,596 in 2022. These services consisted of a review of the Registrant's anti-money laundering program.

The aggregate fees billed in the Reporting Periods for Non-Audit Services by the Auditor to Service Affiliates, other than the services reported in paragraphs (b) through (c) of this Item, which required pre-approval by the Audit Committee, were $0 in 2021 and $0 in 2022.

(e)(1) <u>Audit Committee Pre-Approval Policies and Procedures</u>. The Registrant's Audit Committee has established policies and procedures (the "Policy") for pre-approval (within specified fee limits) of the Auditor's engagements for non-audit services to the Registrant and Service Affiliates without specific case-by-case consideration. The pre-approved services in the Policy can include pre-approved audit services, pre-approved audit-related services, pre-approved tax services and pre-approved all other services. Pre-approval considerations include whether the proposed services are compatible with maintaining the Auditor's independence. Pre-approvals pursuant to the Policy are considered annually.

(e)(2) <u>Note</u>. None of the services described in paragraphs (b) through (d) of this Item 4 were approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) None of the hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant's full-time, permanent employees.

<u>Non-Audit Fees</u>. The aggregate non-audit fees billed by the Auditor for services rendered to the Registrant, and rendered to Service Affiliates, for the Reporting Periods were $3,095,435 in 2021 and $1,803,830 in 2022.

<u>Auditor Independence</u>. The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Auditor's independence.

(i) Not applicable.

(j) Not applicable.

**Item 5. Audit Committee of Listed Registrants.**

Not applicable.

**Item 6. Investments.**

(a) Not applicable.

**Item 7.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable.

**Item 8. Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable.

**Item 9.** **Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.**

Not applicable.

**Item 10.** **Submission of Matters to a Vote of Security Holders.**

There have been no material changes to the procedures applicable to Item 10.

**Item 11.** **Controls and Procedures.**

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**Item 12.** **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

**Item 13.** **Exhibits.**

(a)(1) [Code of ethics referred to in Item 2](ncsrcodeofethics-jan 2021.htm).

(a)(2) [Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940](exh-302_750.htm).

(a)(3) Not applicable.

(b) [Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940](exh-906_750.htm).

**SIGNATURES<br>** 

<br> Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

BNY Mellon New Jersey Municipal Bond Fund, Inc.

By: <u>/s/ David J. DiPetrillo</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;David J. DiPetrillo

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President (Principal Executive Officer)

Date: February 19, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By: <u>/s/ David J. DiPetrillo</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;David J. DiPetrillo

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President (Principal Executive Officer)

Date: February 19, 2023

By: <u>/s/ James Windels</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;James Windels

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasurer (Principal Financial Officer)

Date: February 17, 2023

**EXHIBIT INDEX**

(a)(1) Code of ethics referred to in Item 2.

(a)(2) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940. (EX-99.906CERT)

## Ex-99.Code

**THE BNY MELLON FAMILY OF FUNDS**

**BNY MELLON FUNDS TRUST**

**Principal Executive Officer and Senior Financial Officer**

**Code of Ethics**

**I. Covered Officers/Purpose of the Code**

This code of ethics (the "Code"), adopted by the funds in the BNY Mellon Family of Funds and BNY Mellon Funds Trust (each, a "Fund"), applies to each Fund's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller, or other persons performing similar functions, each of whom is listed on Exhibit A (the "Covered Officers"), for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with, or submits to, the Securities and Exchange Commission (the "SEC") and in other public communications made by the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II. Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest**

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his service to, the Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with the Fund.

Certain conflicts of interest arise out of the relationships between Covered Officers and the Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended (the "Investment Company Act"), and the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as "affiliated persons" of the Fund. The compliance programs and procedures of the Fund and the Fund's investment adviser (the "Adviser") are designed to prevent, or identify and correct, violations of these provisions. The Code does not, and is not intended to, repeat or replace these programs and procedures, and the circumstances they cover fall outside of the parameters of the Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Fund and the Adviser of which the Covered Officers are also officers or employees. As a result, the Code recognizes that the Covered Officers, in the ordinary course of their duties (whether formally for the Fund or for the Adviser, or for both), will be involved in establishing policies and implementing decisions that will have different effects on the Adviser and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the Adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Fund and, if addressed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, will be deemed to have been handled ethically. In addition, it is recognized by the Fund's Board that the Covered Officers also may be officers or employees of one or more other investment companies covered by this or other codes of ethics.

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Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. Covered Officers should keep in mind that the Code cannot enumerate every possible scenario. The overarching principle of the Code is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Fund.

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not use his personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Fund whereby the Covered Officer would benefit personally to the detriment of the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not cause the Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not retaliate against any employee or Covered Officer for reports of potential violations that are made in good faith.

**III. Disclosure and Compliance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should familiarize himself with the disclosure requirements generally applicable to the Fund within his area of responsibility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the Fund to others, whether within or outside the Fund, including to the Fund's Board members and auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each Covered Officer should, to the extent appropriate within his area of responsibility, consult with other officers and employees of the Fund and the Adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· it is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

**IV. Reporting and Accountability**

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· upon adoption of the Code (or thereafter, as applicable, upon becoming a Covered Officer), affirm in writing to the Board that he has received, read, and understands the Code;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· annually thereafter affirm to the Board that he has complied with the requirements of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· notify the Adviser's General Counsel (the "General Counsel") promptly if he knows of any violation of the Code. Failure to do so is itself a violation of the Code.

The General Counsel is responsible for applying the Code to specific situations in which questions are presented under it and has the authority to interpret the Code in any particular situation. However, waivers sought by any Covered Officer will be considered by the Fund's Board.

The Fund will follow these procedures in investigating and enforcing the Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the General Counsel will take all appropriate action to investigate any potential violations reported to him;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if, after such investigation, the General Counsel believes that no violation has occurred, the General Counsel is not required to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any matter that the General Counsel believes is a violation will be reported to the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if the Board concurs that a violation has occurred, it will consider appropriate action, which may include: review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the Adviser or its board; or dismissal of the Covered Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the Board will be responsible for granting waivers, as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any waivers of or amendments to the Code, to the extent required, will be disclosed as provided by SEC rules.

**V. Other Policies and Procedures**

The Code shall be the sole code of ethics adopted by the Fund for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. The Fund's, its principal underwriter's and the Adviser's codes of ethics under Rule 17j-1 under the Investment Company Act and the Adviser's additional policies and procedures, including its Code of Conduct, are separate requirements applying to the Covered Officers and others, and are not part of the Code.

**VI. Amendments**

Except as to Exhibit A, the Code may not be amended except in written form, which is specifically approved or ratified by a majority vote of the Fund's Board, including a majority of independent Board members.

**VII. Confidentiality**

All reports and records prepared or maintained pursuant to the Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or the Code, such matters shall not be disclosed to anyone other than the appropriate Funds and their counsel, the appropriate Boards (or Committees) and their counsel and the Adviser.

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**VIII. Internal Use**

The Code is intended solely for the internal use by the Fund and does not constitute an admission, by or on behalf of the Fund, as to any fact, circumstance, or legal conclusion.

Dated as of: January 14, 2021

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**Exhibit A**

**Persons Covered by the Code of Ethics**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp; David J. DiPetrillo | &nbsp;&nbsp; President | &nbsp;&nbsp; (Principal Executive Officer, BNY Mellon Family of Funds) |
| &nbsp;&nbsp; Patrick T. Crowe | &nbsp;&nbsp; President | &nbsp;&nbsp; (Principal Executive Officer, BNY Mellon Funds Trust) |
| &nbsp;&nbsp; James M. Windels | &nbsp;&nbsp; Treasurer | &nbsp;&nbsp; (Principal Financial and Accounting Officer) |

---

## Ex-99.Cert

[EX-99.CERT]—Exhibit (a)(2)

**SECTION 302 CERTIFICATION**

I, David J. DiPetrillo, certify that:

1. I have reviewed this report on Form N-CSR of BNY Mellon New Jersey Municipal Bond Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

By: <u>/s/ David J. DiPetrillo</u>

David J. DiPetrillo

President (Principal Executive Officer)

Date: February 19, 2023

**SECTION 302 CERTIFICATION**

I, James Windels, certify that:

1. I have reviewed this report on Form N-CSR of BNY Mellon New Jersey Municipal Bond Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

By: <u>/s/ James Windels</u>

James Windels

Treasurer (Principal Financial Officer)

Date: February 17, 2023

## Exhibit 99.906

[EX-99.906CERT]

Exhibit (b)

**SECTION 906 CERTIFICATIONS**

In connection with this report on Form N-CSR for the Registrant as furnished to the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

By: <u>/s/ David J. DiPetrillo</u>

David J. DiPetrillo

President (Principal Executive Officer)<br>

Date: February 19, 2023

By: <u>/s/ James Windels</u>

James Windels

Treasurer (Principal Financial Officer)

Date: February 17, 2023

*This certificate is furnished pursuant to the requirements of Form N-CSR and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.*