# EDGAR Filing Document

**Accession Number:** 0000215740
**File Stem:** 0001752724-23-057701
**Filing Date:** 2023-3
**Character Count:** 33803
**Document Hash:** a7c255658beba369f5b2a3007e330ee8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-057701.hdr.sgml**: 20230315

**ACCESSION NUMBER**: 0001752724-23-057701

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230315

**DATE AS OF CHANGE**: 20230315

**EFFECTIVENESS DATE**: 20230315

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ELFUN TAX EXEMPT INCOME FUND
- **CENTRAL INDEX KEY:** 0000215740
- **IRS NUMBER:** 066210148
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02735
- **FILM NUMBER:** 23736170

**BUSINESS ADDRESS:**
- **STREET 1:** 1600 SUMMER STREET
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06905
- **BUSINESS PHONE:** 203-326-2373

**MAIL ADDRESS:**
- **STREET 1:** 1600 SUMMER STREET
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06905

## Series and Classes Contracts Data

### ELFUN TAX EXEMPT INCOME FUND (Series ID: S000011830)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000032332 | Elfun Tax Exempt Income Fund | elftx           |

## Internal

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Trustees of Elfun International Equity Fund, Elfun Trusts, Elfun Diversified Fund, Elfun Tax-Exempt Income Fund, Elfun Income Fund and Elfun Government Money Market Fund

In planning and performing our audits of the financial statements of Elfun International Equity Fund, Elfun Trusts, Elfun Diversified Fund, Elfun Tax-Exempt Income Fund, Elfun Income Fund and Elfun Government Money Market Fund (collectively, the "Funds") as of and for the year ended December 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds' internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Funds' annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds' internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2022.

This report is intended solely for the information and use of management and the Board of Trustees of Elfun International Equity Fund, Elfun Trusts, Elfun Diversified Fund, Elfun Tax-Exempt Income Fund, Elfun Income Fund, Elfun Government Money Market Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Ernst & Young LLP

Boston, Massachusetts

February 24, 2023

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000215740

## N-CEN: Series/Class (Contract) Information

**Series ID Record:1**
- **Series ID:** S000011830

**Class ID Record:1**
- **Class ID:** C000032332

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2022-12-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** ELFUN TAX EXEMPT INCOME FUND

- **Item B.1.b - Investment Company Act file number:** 811-02735

- **Item B.1.c - CIK:** 0000215740

- **Item B.1.d - LEI:** 54930051FSXB5CV41B97

- **Item B.2.a - Street 1:** One Iron Street

- **Item B.2.b - City:** Boston

- **Item B.2.c - State:** MA

- **Item B.2.e - Zip Code:** 02210

- **Item B.2.f - Telephone:** 617-664-7037

- **Item B.2.g - Public Website:** www.ssga.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** 1 Lincoln Street

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02111

- **g. Telephone number:** 617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as custodian, sub-administrator, accounting agent and transfer agent

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** State Street Global Advisors - advised funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 1

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                | Is Interested Person?   | Other Investment Company File Numbers                                                                        |
|:---|:---|:---|
| Michael A. Jessee   | No                      | 811-00483, 811-05216, 811-09599, 811-04041, 811-09819, 811-05324, 811-05430, 811-07567, 811-03715, 811-05904 |
| Ellen M. Needham    | Yes                     | 811-09819, 811-09599, 811-04041, 811-05216, 811-00483, 811-07567, 811-05904, 811-05430, 811-05324, 811-03715 |
| Margaret McLaughlin | No                      | 811-00483, 811-05216, 811-05324, 811-09599, 811-05904, 811-09819, 811-03715, 811-05430, 811-07567, 811-04041 |
| Donna M. Rapaccioli | No                      | 811-04041, 811-00483, 811-03715, 811-05324, 811-09599, 811-05904, 811-05216, 811-05430, 811-09819, 811-07567 |
| George M. Pereira   | No                      | 811-05430, 811-04041, 811-05216, 811-05324, 811-07567, 811-00483, 811-09819, 811-03715, 811-09599, 811-05904 |
| Richard D. Shirk    | No                      | 811-09819, 811-03715, 811-09599, 811-00483, 811-05216, 811-05904, 811-05430, 811-07567, 811-04041, 811-05324 |
| John R. Costantino  | No                      | 811-09819, 811-04041, 811-05324, 811-05904, 811-03715, 811-05430, 811-05216, 811-09599, 811-07567, 811-00483 |
| Patrick J. Riley    | No                      | 811-03715, 811-07567, 811-05430, 811-09599, 811-05904, 811-09819, 811-05324, 811-05216, 811-04041, 811-00483 |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Brian Harris

- **b. CRD Number, if any:** 005599152

- **c. Street Address 1:** One Iron Street

- **d. City:** Boston

- **e. State, if applicable:** MA

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 02110

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a - Did the Registrant rely on any exemptive orders from the Commission?:** No

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** State Street Global Advisors Funds Distributors, LLC

- **ii. SEC file number:** 8-44744

- **iii. CRD number:** 000030107

- **iv. LEI, if any:** 54ZMQ1M7YQYKOZC8E043

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** Ernst & Young LLP

- **b. PCAOB Number:** 42

- **c. LEI, if any:** N/A

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - ELFUN TAX EXEMPT INCOME FUND

**Item C.1. Background information.**

- **a. Full Name of the Fund:** ELFUN TAX EXEMPT INCOME FUND

- **b. Series identification number, if any:** S000011830

- **c. LEI:** 54930051FSXB5CV41B97

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 1

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class        | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Elfun Tax Exempt Income Fund | C000032332                                | ELFTX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** State Street Bank and Trust Company

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. Is the securities lending agent an affiliated person...?** Yes

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** SSGA Funds Management, Inc.

- **ii. LEI, if any:** FT3UGI3NU6B7EELQF380

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** Yes

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** No

- **b. Were any expenses reduced or waived?** No

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** SSGA Funds Management, Inc.

- **ii. SEC file number:** 801-60103

- **iii. CRD number:** 000111242

- **iv. LEI, if any:** FT3UGI3NU6B7EELQF380

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** U.S. Bancorp Fund Services, LLC

- **ii. SEC file number:** 85-11357

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** WI

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Barclays Capital Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** AC28XWWI3WIBK2824319

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Services, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 13-3668779

- **Description of other identifying number:** Tax ID

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** Refinitiv US Holdings Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300NF240HXJO7N016

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** U.S. Bancorp Fund Services, LLC

- **ii. LEI, if any:** 85-11357

- **iii. State, if applicable:** WI

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any, or other identifying number:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** SSGA Funds Management, Inc.

- **ii. LEI, if any, or other identifying number:** FT3UGI3NU6B7EELQF380

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** State Street Global Advisors Funds Distributors, LLC

- **b. SEC file number:** 8-44744

- **c. CRD number:** 000030107

- **d. LEI, if any:** 54ZMQ1M7YQYKOZC8E043

- **e. State, if applicable:** MA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

No Brokers reported.

**Item C.17.a. Principal transaction counterparties.**

| Name                                     | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| State Street Bank and Trust Company      | N/A               | N/A          | 571474TGEMMWANRLN572 | MA      | US        | $365,978,148.38           |
| J.P. Morgan Securities LLC               | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $32,248,294.60            |
| Pershing LLC                             | 8-17574           | 000007560    | ZI8Q1A8EI8LQFJNM0D94 | NJ      | US        | $281,779,473.35           |
| BofA Securities, Inc.                    | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $63,645,214.30            |
| Raymond James & Associates, Inc.         | 8-10999           | 000000705    | U4ONQX15J3RO8XCKE979 | FL      | US        | $152,071,926.95           |
| Barclays Capital Inc.                    | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $41,991,759.90            |
| Morgan Stanley & Co. LLC                 | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $54,919,193.50            |
| Stifel, Nicolaus & Company, Incorporated | 8-1447            | 000000793    | 5WUVMA08EYG4KEUPW589 | MO      | US        | $48,607,040.55            |
| Truist Securities, Inc.                  | 8-17212           | 000006271    | CSVTK36R0PNGXEM7NS14 | GA      | US        | $109,783,548.70           |
| Oppenheimer & Co. Inc.                   | 8-4077            | 000000249    | 254900VH02JQR2L8XD64 | NY      | US        | $53,769,580.95            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,326,322,599.63

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $1,110,322,983.11

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $200,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** The Bank Of Nova Scotia

  - **Line Institutions Record: 2 Name of institution:** Morgan Stanley Bank, N.A.

  - **Line Institutions Record: 3 Name of institution:** Bank Of America, N.A.

  - **Line Institutions Record: 4 Name of institution:** Credit Suisse AG

  - **Line Institutions Record: 5 Name of institution:** Goldman Sachs Bank USA

  - **Line Institutions Record: 6 Name of institution:** Barclays Bank PLC

  - **Line Institutions Record: 7 Name of institution:** Wells Fargo Bank

  - **Line Institutions Record: 8 Name of institution:** JPMorgan Chase Bank, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                    | SEC File number   |
|:---|:---|
| SPDR S&P Emerging Asia Pacific ETF                              | 811-21145         |
| State Street Global Equity ex-U.S. Index Portfolio              | 811-09819         |
| SPDR Nuveen Bloomberg Short Term Municipal Bond ETF             | 811-08839         |
| SPDR S&P International Dividend ETF                             | 811-21145         |
| SPDR Nuveen Bloomberg Municipal Bond ETF                        | 811-08839         |
| State Street Institutional Premier Growth Equity Fund           | 811-08257         |
| State Street Premier Growth Equity V.I.S. Fund                  | 811-04041         |
| SPDR SSGA Ultra Short Term Bond ETF                             | 811-22542         |
| SPDR Portfolio Long Term Corporate Bond ETF                     | 811-08839         |
| SPDR Bloomberg International Corporate Bond ETF                 | 811-08839         |
| SPDR Nuveen Bloomberg High Yield Municipal Bond ETF             | 811-08839         |
| SPDR Portfolio High Yield Bond                                  | 811-08839         |
| SPDR S&P Emerging Markets Small Cap ETF                         | 811-21145         |
| SPDR Portfolio Corporate Bond ETF                               | 811-08839         |
| State Street U.S. Core Equity Fund                              | 811-01494         |
| SPDR Bloomberg High Yield Bond ETF                              | 811-08839         |
| SPDR FTSE International Government Inflation-Protected Bond ETF | 811-08839         |
| SPDR Bloomberg Convertible Securities ETF                       | 811-08839         |
| State Street Total Return V.I.S. Fund                           | 811-04041         |
| State Street U.S. Equity V.I.S. Fund                            | 811-04041         |
| SPDR Blackstone High Income ETF                                 | 811-22542         |
| State Street Small/Mid Cap Equity Index Portfolio               | 811-09819         |
| SPDR Bloomberg Short Term High Yield Bond ETF                   | 811-08839         |
| SPDR S&P Emerging Markets Dividend ETF                          | 811-21145         |
| SPDR MSCI ACWI ex-US ETF                                        | 811-21145         |
| State Street Emerging Markets Equity Index Fund                 | 811-09819         |
| Elfun International Equity Fund                                 | 811-05216         |
| State Street Aggregate Bond Index Portfolio                     | 811-09819         |
| SPDR DoubleLine Emerging Markets Fixed Income ETF               | 811-22542         |
| SPDR MSCI ACWI Climate Paris Aligned ETF                        | 811-21145         |
| SPDR Bloomberg Emerging Markets Local Bond ETF                  | 811-08839         |
| Elfun Diversified Fund                                          | 811-05324         |
| SPDR MSCI Emerging Markets StrategicFactors ETF                 | 811-21145         |
| Elfun Income Fund                                               | 811-03715         |
| SPDR Bloomberg Short Term International Treasury Bond ETF       | 811-08839         |
| SPDR Portfolio Emerging Markets ETF                             | 811-21145         |
| SPDR Portfolio Mortgage Backed Bond                             | 811-08839         |
| SPDR Bloomberg International Treasury Bond ETF                  | 811-08839         |
| SPDR Portfolio Short Term Corporate Bond ETF                    | 811-08839         |
| State Street Income Fund                                        | 811-21435         |
| SPDR S&P International Small Cap ETF                            | 811-21145         |
| State Street S&P 500 Index Fund                                 | 811-05430         |
| State Street International Stock Selection Fund                 | 811-05430         |
| State Street Institutional Small-Cap Equity Fund                | 811-08257         |
| State Street Equity 500 Index II Portfolio                      | 811-09819         |
| State Street Institutional U.S. Equity Fund                     | 811-08257         |
| State Street Real Estate Securities V.I.S. Fund                 | 811-04041         |
| SPDR DoubleLine Total Return Tactical ETF                       | 811-22542         |
| SPDR Portfolio Aggregate Bond ETF                               | 811-08839         |
| Elfun Trusts                                                    | 811-00483         |
| SPDR Portfolio Intermediate Term Corporate Bond ETF             | 811-08839         |
| State Street S&P 500 Index V.I.S. Fund                          | 811-04041         |
| SPDR DoubleLine Short Duration Total Return Tactical ETF        | 811-22542         |
| SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF        | 811-21145         |
| SPDR Loomis Sayles Opportunistic Bond ETF                       | 811-22542         |
| SPDR Blackstone Senior Loan ETF                                 | 811-22542         |
| State Street Income V.I.S. Fund                                 | 811-04041         |
| State Street International Developed Equity Index Portfolio     | 811-09599         |
| State Street Small-Cap Equity V.I.S. Fund                       | 811-04041         |
| SPDR Bloomberg Investment Grade Floating Rate ETF               | 811-08839         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** ELFUN TAX EXEMPT INCOME FUND

**Date:** 2023-03-15

**Signature:** Arthur Jensen

**Title:** Deputy Treasurer