T. Rowe Price - Georgia Tax Free Bond Fund

This fund aims to provide investors with the maximum possible income that is exempt from both federal and Georgia state income taxes, while maintaining prudent portfolio management. It accomplishes this mainly by investing in high-quality municipal bonds issued within Georgia. Under typical market conditions, at least 80% of the fund's total assets (including any leveraged positions) will be allocated to bonds generating interest free from federal and Georgia state income taxes. Consequently, at least 80% of the income the fund distributes is projected to be exempt from these federal and Georgia state taxes. The fund operates as a non-diversified investment vehicle.