T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
November
30,
2022
(Unaudited)
1
Portfolio
of
Investments
‡
Par
$
Value
(Amounts
in
000s)
‡
MUNICIPAL
SECURITIES
99.1%
DISTRICT
OF
COLUMBIA
2.7%
Washington
Metropolitan
Area
Transit
Auth.,
5.00%,
7/1/43
6,650
6,967
Washington
Metropolitan
Area
Transit
Auth.,
Series A,
4.00%,
7/15/38
3,000
3,049
Washington
Metropolitan
Area
Transit
Auth.,
Series A,
4.00%,
7/15/39
2,280
2,302
Washington
Metropolitan
Area
Transit
Auth.,
Series A-1,
5.00%,
7/1/30
5,525
6,045
Washington
Metropolitan
Area
Transit
Auth.,
Series A-1,
5.00%,
7/1/31
7,800
8,506
Washington
Metropolitan
Area
Transit
Auth.,
Series A-1,
5.00%,
7/1/32
1,750
1,897
Washington
Metropolitan
Area
Transit
Auth.,
Series A-2,
5.00%,
7/1/32
2,975
3,225
Washington
Metropolitan
Area
Transit
Auth.,
Series A-2,
5.00%,
7/1/33
3,250
3,501
Washington
Metropolitan
Area
Transit
Auth.,
Series A-2,
5.00%,
7/1/34
2,275
2,439
Washington
Metropolitan
Area
Transit
Auth.,
Series B,
5.00%,
7/1/42
21,090
22,109
60,040
GEORGIA
0.5%
Bartow
County
Dev.
Auth.,
VRDN,
1.40%,
11/1/62 (1)
5,000
5,000
Burke
County
Dev.
Auth.,
Georgia
Power
Plant
Vogtle,
VRDN,
1.45%,
11/1/52 (1)
4,645
4,645
Burke
County
Dev.
Auth.,
Georgia
Power
Plant
Vogtle,
VRDN,
1.60%,
11/1/52
2,200
2,200
11,845
MARYLAND
91.3%
Anne
Arundel
County
Consolidated
Special
Taxing
Dist.,
Villages
at
Two
Rivers
Project,
4.90%,
7/1/30
1,310
1,303
Anne
Arundel
County
Consolidated
Special
Taxing
Dist.,
Villages
at
Two
Rivers
Project,
5.125%,
7/1/36
2,285
2,289
Anne
Arundel
County
Consolidated
Special
Taxing
Dist.,
Villages
at
Two
Rivers
Project,
5.25%,
7/1/44
4,150
4,154
Anne
Arundel
County
Consolidated
Special
Taxing
Dist.,
Villages
of
Dorchester
&
Farmington
Village,
5.00%,
7/1/23
240
243
Anne
Arundel
County
Consolidated
Special
Taxing
Dist.,
Villages
of
Dorchester
&
Farmington
Village,
5.00%,
7/1/24
470
476
Anne
Arundel
County
Consolidated
Special
Taxing
Dist.,
Villages
of
Dorchester
&
Farmington
Village,
5.00%,
7/1/25
580
587
Anne
Arundel
County
Consolidated
Special
Taxing
Dist.,
Villages
of
Dorchester
&
Farmington
Village,
5.00%,
7/1/32
4,285
4,336
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
2
Par
$
Value
(Amounts
in
000s)
Anne
Arundel
County,
Annapolis
Area
Christian
School,
Series A,
5.50%,
7/1/23
175
175
Anne
Arundel
County,
Annapolis
Area
Christian
School,
Series A,
6.50%,
7/1/33
2,555
2,557
Anne
Arundel
County,
Annapolis
Area
Christian
School,
Series A,
6.75%,
7/1/43
4,970
4,972
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
3.00%,
10/1/49
6,340
5,003
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
4.00%,
10/1/47
9,230
9,252
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/35
4,615
5,359
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/36
5,130
5,573
Anne
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/37
1,100
1,155
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/38
2,000
2,129
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/39
3,105
3,250
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/40
3,610
3,826
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/41
3,105
3,239
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/42
1,450
1,512
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/43
4,125
4,353
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/44
4,175
4,558
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/45
4,350
4,523
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/46
10,830
11,392
Anne
Arundel
County,
Consolidated
General
Improvement,
GO,
5.00%,
10/1/48
27,800
30,179
Anne
Arundel
County,
Consolidated
General
Improvement,
Series 2016,
GO,
5.00%,
10/1/41
1,450
1,513
Anne
Arundel
County,
Consolidated
General
Improvement,
Series 2018,
GO,
5.00%,
10/1/37
6,480
7,018
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
4.50%,
4/1/44
11,250
11,335
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
4/1/35
1,445
1,511
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
10/1/37
1,805
1,926
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
3
Par
$
Value
(Amounts
in
000s)
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
10/1/39
1,125
1,195
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
4/1/40
12,345
12,806
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
10/1/40
2,125
2,252
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
10/1/41
1,655
1,817
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
10/1/42
3,105
3,237
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
10/1/43
2,105
2,250
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
4/1/45
12,925
13,352
Anne
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
10/1/46
5,375
5,654
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
GO,
5.00%,
10/1/47
1,780
1,934
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
Series 2017,
GO,
5.00%,
10/1/38
2,125
2,263
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
Series 2018,
GO,
5.00%,
10/1/47
5,000
5,317
Anne
Arundel
County,
Consolidated
Water
&
Sewer,
Series 2020,
GO,
5.00%,
10/1/38
2,470
2,742
Anne
Arundel
County,
Recreational
Fac.
Improvements,
GO,
5.00%,
10/1/40
3,105
3,245
Anne
Arundel
County,
Recreational
Fac.
Improvements,
GO,
5.00%,
10/1/45
9,315
9,686
Anne
Arundel
County,
Sewer
Improvements,
GO,
5.00%,
10/1/43
10,830
11,430
Anne
Arundel
County,
Water
Utility
Improvement,
GO,
5.00%,
4/1/33
2,600
2,733
Anne
Arundel
County,
Water
Utility
Improvement,
GO,
5.00%,
4/1/34
7,655
8,025
Anne
Arundel
County,
Water
Utility
Improvement,
GO,
5.00%,
4/1/35
7,655
8,006
Baltimore
County,
GO,
4.00%,
3/1/39
3,025
3,100
Baltimore
County,
GO,
4.00%,
3/1/40
3,580
3,641
Baltimore
County,
Consolidated
Public
Improvement,
GO,
4.00%,
2/1/34
7,750
7,826
Baltimore
County,
Metropolitan
Dist.
77th
Issue,
GO,
5.00%,
8/1/41
4,255
4,369
Baltimore
County,
Metropolitan
Dist.
77th
Issue,
GO,
5.00%,
8/1/44
8,400
8,604
Baltimore
County,
Metropolitan
Dist.
78th
Issue,
GO,
5.00%,
2/1/46
10,000
10,434
Baltimore
County,
Metropolitan
Dist.
80th
Issue,
GO,
4.00%,
3/1/38
610
621
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
4
Par
$
Value
(Amounts
in
000s)
Baltimore
County,
Metropolitan
Dist.
80th
Issue,
GO,
4.00%,
3/1/39
4,415
4,481
Baltimore
County,
Metropolitan
Dist.
80th
Issue,
GO,
4.00%,
3/1/41
3,215
3,239
Baltimore
County,
Metropolitan
Dist.
80th
Issue,
GO,
4.00%,
3/1/42
9,595
9,663
Baltimore
County,
Metropolitan
Dist.
80th
Issue,
GO,
4.00%,
3/1/44
11,595
11,654
Baltimore
County,
Metropolitan
Dist.
80th
Issue,
GO,
4.00%,
3/1/45
1,700
1,705
Baltimore
County,
Metropolitan
Dist.
80th
Issue,
GO,
4.00%,
3/1/48
5,365
5,366
Baltimore
County,
Oak
Crest
Village,
4.00%,
1/1/38
845
786
Baltimore
County,
Oak
Crest
Village,
4.00%,
1/1/39
600
553
Baltimore
County,
Oak
Crest
Village,
4.00%,
1/1/40
755
692
Baltimore
County,
Oak
Crest
Village,
4.00%,
1/1/45
6,115
5,415
Baltimore
County,
Oak
Crest
Village,
4.00%,
1/1/50
3,350
2,876
Baltimore
County,
Oak
Crest
Village,
5.00%,
1/1/23
450
451
Baltimore
County,
Oak
Crest
Village,
5.00%,
1/1/24
855
870
Baltimore
County,
Oak
Crest
Village,
5.00%,
1/1/25
1,065
1,098
Baltimore
County,
Oak
Crest
Village,
5.00%,
1/1/27
1,050
1,095
Baltimore
County,
Oak
Crest
Village,
5.00%,
1/1/28
1,235
1,286
Baltimore
County,
Oak
Crest
Village,
5.00%,
1/1/29
1,035
1,076
Baltimore
County,
Oak
Crest
Village,
5.00%,
1/1/30
1,040
1,080
Baltimore
County,
Oak
Crest
Village,
5.00%,
1/1/37
7,345
7,527
Baltimore
County,
Riverwood
Village,
4.00%,
1/1/34
235
239
Baltimore
County,
Riverwood
Village,
4.00%,
1/1/37
130
129
Baltimore
County,
Riverwood
Village,
4.00%,
1/1/50
8,500
8,075
Baltimore,
Center/West
Dev.,
Series A,
5.375%,
6/1/36
1,000
1,003
Baltimore,
Center/West
Dev.,
Series A,
5.50%,
6/1/43
1,450
1,454
Baltimore,
Consolidated
Tax
Increment
Fin.,
5.00%,
6/15/23
410
415
Baltimore,
Consolidated
Tax
Increment
Fin.,
5.00%,
6/15/25
590
606
Baltimore,
Consolidated
Tax
Increment
Fin.,
5.00%,
6/15/26
375
385
Baltimore,
Consolidated
Tax
Increment
Fin.,
5.00%,
6/15/27
520
533
Baltimore,
Consolidated
Tax
Increment
Fin.,
5.00%,
6/15/28
1,215
1,246
Baltimore,
Consolidated
Tax
Increment
Fin.,
5.00%,
6/15/29
930
954
Baltimore,
Consolidated
Tax
Increment
Fin.,
5.00%,
6/15/30
515
527
Baltimore,
Consolidated
Tax
Increment
Fin.,
5.00%,
6/15/33
415
424
Baltimore,
East
Baltimore
Research
Park,
Series A,
5.00%,
9/1/38
1,865
1,862
Baltimore,
Harbor
Point
Project,
4.50%,
6/1/33
400
382
Baltimore,
Harbor
Point
Project,
4.75%,
6/1/31
2,025
2,021
Baltimore,
Harbor
Point
Project,
4.875%,
6/1/42
875
811
Baltimore,
Harbor
Point
Project,
5.00%,
6/1/36
2,550
2,554
Baltimore,
Harbor
Point
Project,
5.00%,
6/1/51
5,700
5,347
Baltimore,
Harbor
Point
Project,
5.125%,
6/1/43
8,200
8,050
Baltimore,
Harbor
Point
Project,
Series A,
3.25%,
6/1/31 (2)
220
190
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
5
Par
$
Value
(Amounts
in
000s)
Baltimore,
Harbor
Point
Project,
Series A,
3.30%,
6/1/32 (2)
250
212
Baltimore,
Harbor
Point
Project,
Series A,
3.35%,
6/1/33 (2)
270
226
Baltimore,
Harbor
Point
Project,
Series A,
3.50%,
6/1/39 (2)
650
516
Baltimore,
Harbor
Point
Project,
Series A,
3.625%,
6/1/46 (2)
4,000
3,048
Baltimore,
Harbor
Point
Project,
Series B,
3.55%,
6/1/34 (2)
325
273
Baltimore,
Harbor
Point
Project,
Series B,
3.70%,
6/1/39 (2)
450
364
Baltimore,
Harbor
Point
Project,
Series B,
3.875%,
6/1/46 (2)
670
523
Baltimore,
Wastewater
Project,
Series C,
5.00%,
7/1/27
(Prerefunded
1/1/24) (3)
525
539
Baltimore,
Wastewater
Project,
Series C,
5.00%,
7/1/30
(Prerefunded
1/1/24) (3)
1,450
1,488
Baltimore,
Wastewater
Project,
Series C,
5.00%,
7/1/43
(Prerefunded
1/1/24) (3)
4,570
4,688
Baltimore,
Wastewater
Project,
Series D,
5.00%,
7/1/29
(Prerefunded
1/1/24) (3)
1,330
1,364
Baltimore,
Wastewater
Project,
Series D,
5.00%,
7/1/30
(Prerefunded
1/1/24) (3)
2,895
2,970
Baltimore,
Water
Project,
Series A,
5.00%,
7/1/28 (4)(5)
290
307
Baltimore,
Water
Project,
Series B,
5.00%,
7/1/31
(Prerefunded
1/1/24) (3)
3,865
3,965
Baltimore,
Water
Project,
Series B,
5.00%,
7/1/38
(Prerefunded
1/1/24) (3)
1,190
1,221
Brunswick,
Brunswick
Crossing
Special
Taxing
Dist.,
3.00%,
7/1/24
475
466
Brunswick,
Brunswick
Crossing
Special
Taxing
Dist.,
4.00%,
7/1/29
960
930
Brunswick,
Brunswick
Crossing
Special
Taxing
Dist.,
5.00%,
7/1/36
1,548
1,555
Charles
County,
Consolidated
Public
Improvement,
GO,
4.00%,
10/1/48
1,135
1,135
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
4.00%,
7/1/31
4,395
4,523
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
4.00%,
7/1/32
2,000
2,033
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
4.00%,
7/1/33
1,815
1,831
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
4.00%,
7/1/34
1,000
1,008
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
4.00%,
7/1/36
1,600
1,600
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
4.00%,
7/1/37
1,200
1,192
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
4.00%,
7/1/39
585
570
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
4.00%,
7/1/40
1,155
1,110
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
6
Par
$
Value
(Amounts
in
000s)
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
5.00%,
7/1/25
1,000
1,049
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
5.00%,
7/1/27
1,550
1,670
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
5.00%,
7/1/28
2,645
2,889
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
5.00%,
7/1/29
2,545
2,815
Frederick
County,
Urbana
Community
Dev.
Auth.,
Series A,
5.00%,
7/1/30
2,000
2,240
Gaithersburg,
Asbury
Obligated
Group,
4.50%,
1/1/42
5,000
4,307
Gaithersburg,
Asbury
Obligated
Group,
Series A,
5.00%,
1/1/33
1,190
1,199
Gaithersburg,
Asbury
Obligated
Group,
Series A,
5.00%,
1/1/36
10,140
10,153
Gaithersburg,
Asbury
Obligated
Group,
Series B,
5.00%,
1/1/27
4,025
4,083
Harford
County,
Beechtree
Estates
Project,
4.00%,
7/1/36
750
752
Harford
County,
Beechtree
Estates
Project,
4.00%,
7/1/40
885
850
Howard
County
Housing
Commission,
Columbia
Landing
Apartments,
Series A,
1.60%,
6/1/29
5,000
4,481
Howard
County
Housing
Commission,
Gateway
Village
Apts,
4.00%,
6/1/46
5,425
4,969
Howard
County
Housing
Commission,
Woodfield
Oxford
Square
Apts,
5.00%,
12/1/29
1,055
1,134
Howard
County
Housing
Commission,
Woodfield
Oxford
Square
Apts,
5.00%,
12/1/30
1,035
1,110
Howard
County
Housing
Commission,
Woodfield
Oxford
Square
Apts,
5.00%,
12/1/31
750
803
Howard
County
Housing
Commission,
Woodfield
Oxford
Square
Apts,
5.00%,
12/1/32
550
586
Howard
County
Housing
Commission,
Woodfield
Oxford
Square
Apts,
5.00%,
12/1/37
7,350
7,716
Howard
County
Housing
Commission,
Woodfield
Oxford
Square
Apts,
5.00%,
12/1/42
5,000
5,218
Howard
County
Housing
Commission,
Woodfield
Oxford
Square
Apts,
5.00%,
12/1/46
10,000
10,386
Howard
County,
Annapolis
Junction
Town
Center
Project,
5.80%,
2/15/34
725
705
Howard
County,
Annapolis
Junction
Town
Center
Project,
6.10%,
2/15/44
1,425
1,371
Howard
County,
Consolidated
Public
Improvement,
Series A,
GO,
4.00%,
8/15/36
6,610
6,852
Howard
County,
Consolidated
Public
Improvement,
Series A,
GO,
4.00%,
8/15/37
5,000
5,163
Howard
County,
Downtown
Columbia
Project,
Series A,
4.00%,
2/15/28 (2)
480
463
Howard
County,
Downtown
Columbia
Project,
Series A,
4.125%,
2/15/34 (2)
1,000
922
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
7
Par
$
Value
(Amounts
in
000s)
Howard
County,
Downtown
Columbia
Project,
Series A,
4.375%,
2/15/39 (2)
1,000
910
Howard
County,
Downtown
Columbia
Project,
Series A,
4.50%,
2/15/47 (2)
2,300
2,011
Howard
County,
Patuxent
Square
Apts,
VRDN,
4.75%,
10/1/36
(Tender
4/1/29) (1)
2,080
2,084
Maryland
CDA,
4.65%,
9/1/37 (6)
6,000
6,166
Maryland
CDA,
4.95%,
9/1/42 (6)
4,500
4,627
Maryland
CDA,
6.00%,
3/1/53 (6)
7,000
7,605
Maryland
CDA,
Series A,
3.00%,
9/1/51
14,230
13,781
Maryland
CDA,
Series A,
3.75%,
3/1/50
12,775
12,689
Maryland
CDA,
Series A,
4.50%,
9/1/48
7,835
7,944
Maryland
CDA,
Series A,
5.00%,
9/1/52
5,000
5,181
Maryland
CDA,
Series B,
3.00%,
9/1/51
35,290
34,025
Maryland
CDA,
Series B,
3.20%,
9/1/39
10,000
8,836
Maryland
CDA,
Series C,
2.60%,
1/1/42
1,880
1,380
Maryland
CDA,
Series C,
3.50%,
3/1/50
3,980
3,929
Maryland
CDA,
Series C,
5.00%,
9/1/26
375
402
Maryland
CDA,
Series C,
5.00%,
9/1/27
770
835
Maryland
CDA,
Series C,
5.00%,
9/1/28
1,160
1,273
Maryland
CDA,
Series C,
5.00%,
9/1/29
2,425
2,671
Maryland
CDA,
Series C,
5.00%,
3/1/30
740
812
Maryland
CDA,
Series C,
5.00%,
3/1/31
1,500
1,641
Maryland
CDA,
Series C,
5.15%,
7/1/42 (6)
2,500
2,617
Maryland
CDA,
Series F,
5.00%,
7/1/48
980
985
Maryland
CDA,
Glen
Manor
Apts,
Series G,
4.70%,
1/1/31
4,950
4,954
Maryland
DOT,
COP,
5.00%,
10/15/23 (1)
1,035
1,037
Maryland
DOT,
Series B,
4.00%,
8/1/39 (1)
2,340
2,232
Maryland
DOT,
Series B,
4.00%,
8/1/40 (1)
2,975
2,816
Maryland
DOT,
Series B,
4.00%,
8/1/41 (1)
3,125
2,951
Maryland
DOT,
Series B,
4.00%,
8/1/51 (1)
34,755
30,996
Maryland
DOT,
Series B,
5.00%,
8/1/31 (1)
1,125
1,225
Maryland
DOT,
Series B,
5.00%,
8/1/32 (1)
1,420
1,537
Maryland
DOT,
Series B,
5.00%,
8/1/46 (1)
18,100
18,575
Maryland
Economic
Dev.,
Air
Cargo
Obligated
Group,
4.00%,
7/1/39 (1)
3,060
2,749
Maryland
Economic
Dev.,
Air
Cargo
Obligated
Group,
4.00%,
7/1/44 (1)
4,800
4,153
Maryland
Economic
Dev.,
Air
Cargo
Obligated
Group,
5.00%,
7/1/23 (1)
600
603
Maryland
Economic
Dev.,
Air
Cargo
Obligated
Group,
5.00%,
7/1/24 (1)
325
329
Maryland
Economic
Dev.,
Air
Cargo
Obligated
Group,
5.00%,
7/1/25 (1)
510
520
Maryland
Economic
Dev.,
Air
Cargo
Obligated
Group,
5.00%,
7/1/26 (1)
690
707
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
8
Par
$
Value
(Amounts
in
000s)
Maryland
Economic
Dev.,
Air
Cargo
Obligated
Group,
5.00%,
7/1/28 (1)
310
321
Maryland
Economic
Dev.,
Air
Cargo
Obligated
Group,
5.00%,
7/1/29 (1)
225
234
Maryland
Economic
Dev.,
Annapolis
Mobility
&
Resilience
Project,
5.00%,
12/31/37
2,295
2,399
Maryland
Economic
Dev.,
Annapolis
Mobility
&
Resilience
Project,
5.00%,
12/31/42
3,970
4,086
Maryland
Economic
Dev.,
Annapolis
Mobility
&
Resilience
Project,
5.25%,
12/31/47
5,940
6,181
Maryland
Economic
Dev.,
Annapolis
Mobility
&
Resilience
Project,
5.25%,
6/30/53
1,185
1,227
Maryland
Economic
Dev.,
Baltimore
City
Project,
Series A,
5.00%,
6/1/58
2,500
2,306
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/28
400
398
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/29
545
540
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/30
565
557
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/31
590
578
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/32
815
793
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/33
655
631
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/34
395
377
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/35
260
245
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/40
2,755
2,474
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
4.00%,
7/1/50
12,335
10,274
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
5.00%,
6/1/25
1,340
1,365
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
5.00%,
6/1/29 (2)
1,680
1,722
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
5.00%,
6/1/33 (2)
2,000
2,036
Maryland
Economic
Dev.,
Bowie
State
Univ.
Project,
5.00%,
7/1/55
7,690
7,616
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
4.00%,
7/1/40
5,055
4,539
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
4.25%,
7/1/50
3,000
2,609
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/23
1,170
1,179
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/24
1,225
1,250
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/25
1,285
1,324
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/26
600
624
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/27
665
696
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/28
490
516
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
9
Par
$
Value
(Amounts
in
000s)
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/29
810
857
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/30
1,095
1,162
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/31
1,000
1,063
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/32
1,805
1,919
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/34
2,500
2,614
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/50
7,270
7,142
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
5.00%,
7/1/56
12,830
12,484
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
Series A,
5.75%,
7/1/53
6,720
7,089
Maryland
Economic
Dev.,
Morgan
State
Univ.
Project,
Series A,
6.00%,
7/1/58
7,900
8,421
Maryland
Economic
Dev.,
Purple
Line
Light
Rail
Project,
Series A,
5.00%,
11/12/28 (1)
6,400
6,703
Maryland
Economic
Dev.,
Purple
Line
Light
Rail
Project,
Series B,
5.00%,
6/30/41 (1)
2,850
2,928
Maryland
Economic
Dev.,
Purple
Line
Light
Rail
Project,
Series B,
5.00%,
12/31/41 (1)
2,500
2,568
Maryland
Economic
Dev.,
Purple
Line
Light
Rail
Project,
Series B,
5.25%,
6/30/47 (1)
1,350
1,407
Maryland
Economic
Dev.,
Purple
Line
Light
Rail
Project,
Series B,
5.25%,
6/30/52 (1)
2,000
2,074
Maryland
Economic
Dev.,
Purple
Line
Light
Rail
Project,
Series B,
5.25%,
6/30/55 (1)
37,815
39,033
Maryland
Economic
Dev.,
Salisbury
Univ.
Project,
5.00%,
6/1/27
700
701
Maryland
Economic
Dev.,
Salisbury
Univ.
Project,
5.00%,
6/1/30
805
805
Maryland
Economic
Dev.,
Salisbury
Univ.
Project,
5.00%,
6/1/34
1,000
990
Maryland
Economic
Dev.,
Seagirt
Marine
Terminal
Project,
5.00%,
6/1/44 (1)
5,650
5,725
Maryland
Economic
Dev.,
Seagirt
Marine
Terminal
Project,
5.00%,
6/1/49 (1)
15,655
15,793
Maryland
Economic
Dev.,
Towson
Univ.
Project,
4.00%,
7/1/23
100
100
Maryland
Economic
Dev.,
Towson
Univ.
Project,
4.00%,
7/1/24
465
462
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/25
400
405
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/27
1,825
1,826
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/28
175
177
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/29
1,775
1,775
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/30
325
327
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/31
375
376
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/32
325
325
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/36
2,100
2,045
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
10
Par
$
Value
(Amounts
in
000s)
Maryland
Economic
Dev.,
Towson
Univ.
Project,
5.00%,
7/1/37
3,000
2,906
Maryland
Economic
Dev.,
Towson
Univ.
Project,
Series 2017,
5.00%,
7/1/27
185
188
Maryland
Economic
Dev.,
Towson
Univ.
Project,
Series 2017,
5.00%,
7/1/29
215
217
Maryland
Economic
Dev.,
Transportation
Fac.
Project,
Series A,
5.00%,
6/1/24
1,445
1,486
Maryland
Economic
Dev.,
Transportation
Fac.
Project,
Series A,
5.00%,
6/1/25
1,000
1,031
Maryland
Economic
Dev.,
Transportation
Fac.
Project,
Series A,
5.00%,
6/1/29
500
528
Maryland
Economic
Dev.,
Transportation
Fac.
Project,
Series A,
5.00%,
6/1/30
500
528
Maryland
Economic
Dev.,
Transportation
Fac.
Project,
Series A,
5.00%,
6/1/31
4,350
4,584
Maryland
Economic
Dev.,
Transportation
Fac.
Project,
Series A,
5.00%,
6/1/32
2,000
2,102
Maryland
Economic
Dev.,
Transportation
Fac.
Project,
Series A,
5.00%,
6/1/35
7,155
7,430
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
4.00%,
7/1/23 (7)
480
484
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
4.00%,
7/1/24 (7)
420
427
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
4.00%,
7/1/25 (7)
470
482
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
4.00%,
7/1/26 (7)
505
523
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
5.00%,
7/1/27 (7)
800
846
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
5.00%,
7/1/28 (7)
525
553
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
5.00%,
7/1/29 (7)
560
589
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
5.00%,
7/1/30 (7)
1,325
1,391
Maryland
Economic
Dev.,
Univ.
of
Maryland
Baltimore
County
Project,
5.00%,
7/1/31 (7)
705
738
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
4.00%,
6/1/23 (7)
2,035
2,049
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
4.00%,
6/1/24 (7)
1,700
1,725
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
4.00%,
6/1/25 (7)
2,010
2,062
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
4.00%,
6/1/26 (7)
1,815
1,878
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
5.00%,
6/1/27 (7)
2,280
2,410
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
11
Par
$
Value
(Amounts
in
000s)
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
5.00%,
6/1/28 (7)
3,405
3,585
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
5.00%,
6/1/29 (7)
3,100
3,258
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
5.00%,
6/1/30 (7)
3,915
4,106
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
5.00%,
6/1/31 (7)
3,765
3,939
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
5.00%,
6/1/35 (7)
9,850
10,181
Maryland
Economic
Dev.,
Univ.
of
Maryland
College
Park
Project,
5.00%,
6/1/43 (7)
4,560
4,638
Maryland
Economic
Dev.,
Univ.
of
Maryland
Project,
4.00%,
7/1/23
820
819
Maryland
Economic
Dev.,
Univ.
of
Maryland
Project,
4.00%,
7/1/25
600
593
Maryland
Economic
Dev.,
Univ.
of
Maryland
Project,
5.00%,
7/1/26
635
642
Maryland
Economic
Dev.,
Univ.
of
Maryland
Project,
5.00%,
7/1/27
500
505
Maryland
Economic
Dev.,
Univ.
of
Maryland
Project,
5.00%,
7/1/31
1,850
1,860
Maryland
Economic
Dev.,
Univ.
of
Maryland
Project,
5.00%,
7/1/35
3,845
3,827
Maryland
Economic
Dev.,
Univ.
of
Maryland
Project,
5.00%,
7/1/39
3,850
3,744
Maryland
Economic
Dev.,
Univ.
Village
at
Sheppard
Pratt,
4.00%,
7/1/23
910
910
Maryland
Economic
Dev.,
Univ.
Village
at
Sheppard
Pratt,
5.00%,
7/1/27
1,600
1,600
Maryland
Economic
Dev.,
Univ.
Village
at
Sheppard
Pratt,
5.00%,
7/1/33
2,570
2,570
Maryland
HHEFA,
4.00%,
7/1/39
(Prerefunded
7/1/24) (3)
2,475
2,525
Maryland
HHEFA,
Adventist
Healthcare,
4.00%,
1/1/28
950
962
Maryland
HHEFA,
Adventist
Healthcare,
4.00%,
1/1/30
510
514
Maryland
HHEFA,
Adventist
Healthcare,
5.00%,
1/1/23
800
801
Maryland
HHEFA,
Adventist
Healthcare,
5.00%,
1/1/24
545
553
Maryland
HHEFA,
Adventist
Healthcare,
5.00%,
1/1/26
910
941
Maryland
HHEFA,
Adventist
Healthcare,
5.00%,
1/1/27
430
448
Maryland
HHEFA,
Adventist
Healthcare,
5.00%,
1/1/28
375
393
Maryland
HHEFA,
Adventist
Healthcare,
5.00%,
1/1/29
580
610
Maryland
HHEFA,
Adventist
Healthcare,
5.00%,
1/1/30
555
586
Maryland
HHEFA,
Adventist
Healthcare,
5.00%,
1/1/36
2,340
2,430
Maryland
HHEFA,
Adventist
Healthcare,
Series A,
5.50%,
1/1/36
1,540
1,615
Maryland
HHEFA,
Adventist
Healthcare,
Series A,
5.50%,
1/1/46
15,605
15,856
Maryland
HHEFA,
Adventist
Healthcare,
Series B,
4.00%,
1/1/34
2,565
2,562
Maryland
HHEFA,
Adventist
Healthcare,
Series B,
4.00%,
1/1/35
1,780
1,760
Maryland
HHEFA,
Andrews
Public
Charter,
5.50%,
5/1/42 (2)
820
776
Maryland
HHEFA,
Andrews
Public
Charter,
5.50%,
5/1/52 (2)
1,500
1,376
Maryland
HHEFA,
Broadmead,
Series A,
4.00%,
7/1/35
280
263
Maryland
HHEFA,
Broadmead,
Series A,
5.00%,
7/1/26
780
809
Maryland
HHEFA,
Broadmead,
Series A,
5.00%,
7/1/28
100
105
Maryland
HHEFA,
Broadmead,
Series A,
5.00%,
7/1/29
1,000
1,048
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
12
Par
$
Value
(Amounts
in
000s)
Maryland
HHEFA,
Broadmead,
Series A,
5.00%,
7/1/31
530
552
Maryland
HHEFA,
Broadmead,
Series A,
5.00%,
7/1/32
1,000
1,040
Maryland
HHEFA,
Broadmead,
Series A,
5.00%,
7/1/38
2,830
2,900
Maryland
HHEFA,
Broadmead,
Series A,
5.00%,
7/1/43
2,800
2,835
Maryland
HHEFA,
Broadmead,
Series A,
5.00%,
7/1/48
5,000
5,036
Maryland
HHEFA,
Calvert
Health
System,
5.00%,
7/1/38
(Prerefunded
7/1/23) (3)
750
759
Maryland
HHEFA,
Charlestown
Community,
Series A,
5.00%,
1/1/27
1,200
1,264
Maryland
HHEFA,
Charlestown
Community,
Series A,
5.00%,
1/1/28
505
532
Maryland
HHEFA,
Charlestown
Community,
Series A,
5.00%,
1/1/36
2,835
2,960
Maryland
HHEFA,
Charlestown
Community,
Series A,
5.00%,
1/1/45
14,760
15,253
Maryland
HHEFA,
City
Neighbors
Charter
School,
Series A,
6.75%,
7/1/44
2,700
2,727
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
3.125%,
1/1/24
200
199
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
4.00%,
1/1/23
905
905
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
4.00%,
1/1/29
1,515
1,501
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
4.125%,
1/1/30
945
936
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
5.00%,
1/1/25
875
897
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
5.00%,
1/1/26
1,015
1,044
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
5.00%,
1/1/27
1,920
1,968
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
5.00%,
1/1/28
2,070
2,115
Maryland
HHEFA,
Edenwald
Issue,
Retirement
Fac.,
5.25%,
1/1/37
15,230
15,453
Maryland
HHEFA,
Frederick
Health
System,
4.00%,
7/1/40
1,665
1,549
Maryland
HHEFA,
Frederick
Health
System,
4.00%,
7/1/45
11,075
10,047
Maryland
HHEFA,
Frederick
Health
System,
4.00%,
7/1/50
11,565
10,127
Maryland
HHEFA,
Greater
Baltimore
Medical
Center,
Series A,
2.50%,
7/1/51
3,970
2,448
Maryland
HHEFA,
Greater
Baltimore
Medical
Center,
Series A,
3.00%,
7/1/46
10,190
7,489
Maryland
HHEFA,
Greater
Baltimore
Medical
Center,
Series A,
4.00%,
7/1/35
1,200
1,202
Maryland
HHEFA,
Greater
Baltimore
Medical
Center,
Series A,
4.00%,
7/1/37
4,380
4,303
Maryland
HHEFA,
Greater
Baltimore
Medical
Center,
Series A,
4.00%,
7/1/38
5,105
4,977
Maryland
HHEFA,
Greater
Baltimore
Medical
Center,
Series A,
4.00%,
7/1/40
3,265
3,145
Maryland
HHEFA,
Greater
Baltimore
Medical
Center,
Series A,
4.00%,
7/1/41
4,740
4,552
Maryland
HHEFA,
Green
Street
Academy,
Series A,
5.00%,
7/1/27 (2)
300
301
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
13
Par
$
Value
(Amounts
in
000s)
Maryland
HHEFA,
Green
Street
Academy,
Series A,
5.125%,
7/1/37 (2)
1,265
1,198
Maryland
HHEFA,
Green
Street
Academy,
Series A,
5.25%,
7/1/47 (2)
1,800
1,632
Maryland
HHEFA,
Green
Street
Academy,
Series A,
5.375%,
7/1/52 (2)
1,530
1,392
Maryland
HHEFA,
Helix
Health
Issue,
5.00%,
7/1/27 (4)(8)
8,390
8,859
Maryland
HHEFA,
Johns
Hopkins
Medical
Institution,
5.50%,
7/1/26 (8)
1,955
1,969
Maryland
HHEFA,
Johns
Hopkins
Medical
Institution,
Series A,
5.00%,
5/15/37
5,000
5,163
Maryland
HHEFA,
Johns
Hopkins
Medical
Institution,
Series B,
4.60%,
7/1/38 (8)
490
494
Maryland
HHEFA,
Johns
Hopkins
Univ.,
Series B,
4.25%,
7/1/41
5,475
5,484
Maryland
HHEFA,
Johns
Hopkins
Univ.,
Series B,
5.00%,
7/1/38
6,590
6,635
Maryland
HHEFA,
Lifebridge
Health,
4.00%,
7/1/42
1,700
1,653
Maryland
HHEFA,
Lifebridge
Health,
5.00%,
7/1/44
500
513
Maryland
HHEFA,
LifeBridge
Health,
5.00%,
7/1/31
1,060
1,120
Maryland
HHEFA,
LifeBridge
Health,
5.00%,
7/1/32
1,210
1,272
Maryland
HHEFA,
LifeBridge
Health,
5.00%,
7/1/33
1,175
1,229
Maryland
HHEFA,
LifeBridge
Health,
5.00%,
7/1/34
3,925
4,137
Maryland
HHEFA,
LifeBridge
Health,
5.00%,
7/1/47
36,350
36,647
Maryland
HHEFA,
LifeBridge
Health,
Series 2016,
5.00%,
7/1/47
20,190
20,414
Maryland
HHEFA,
LifeBridge
Health,
Series 2017,
5.00%,
7/1/32
1,345
1,432
Maryland
HHEFA,
LifeBridge
Health,
Series 2017,
5.00%,
7/1/33
1,015
1,074
Maryland
HHEFA,
Loyola
Univ.,
4.00%,
10/1/30
480
485
Maryland
HHEFA,
Loyola
Univ.,
4.00%,
10/1/33
1,210
1,216
Maryland
HHEFA,
Loyola
Univ.,
4.00%,
10/1/39
5,505
5,294
Maryland
HHEFA,
Loyola
Univ.,
4.00%,
10/1/45
7,330
6,781
Maryland
HHEFA,
Loyola
Univ.,
5.00%,
10/1/27
435
450
Maryland
HHEFA,
Loyola
Univ.,
5.00%,
10/1/28
500
517
Maryland
HHEFA,
Loyola
Univ.,
5.00%,
10/1/32
595
614
Maryland
HHEFA,
Loyola
Univ.,
5.00%,
10/1/45
8,510
8,702
Maryland
HHEFA,
Loyola
Univ.,
Series A,
5.00%,
10/1/24
500
517
Maryland
HHEFA,
Loyola
Univ.,
Series A,
5.00%,
10/1/49
8,440
8,945
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
4.00%,
6/1/24
700
707
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
4.00%,
6/1/42
2,435
2,266
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/24
250
256
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/25
100
104
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/26
225
236
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/27
850
891
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/28
650
681
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/29
1,295
1,296
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/30
1,020
1,064
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/31
680
708
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/32
710
738
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
14
Par
$
Value
(Amounts
in
000s)
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/33
300
311
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/34
1,005
1,006
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/35
275
284
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/36
650
670
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/42
3,000
3,071
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
5.00%,
6/1/47
11,630
11,633
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
Series 2012,
5.00%,
6/1/23
500
501
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
Series 2016,
5.00%,
6/1/23
250
252
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
Series 2017,
5.00%,
6/1/25
260
270
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
Series 2017,
5.00%,
6/1/28
300
314
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
Series 2017,
5.00%,
6/1/29
315
329
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
Series 2017,
5.00%,
6/1/34
1,330
1,377
Maryland
HHEFA,
Maryland
Institute
College
of
Art,
Series 2017,
5.00%,
6/1/36
575
593
Maryland
HHEFA,
Medlantic/Helix
Issue,
Series A,
5.25%,
8/15/38 (7)
6,700
7,557
Maryland
HHEFA,
Medlantic/Helix
Issue,
Series B,
5.25%,
8/15/38 (8)
16,030
17,455
Maryland
HHEFA,
MedStar
Health,
4.00%,
8/15/45
1,165
1,108
Maryland
HHEFA,
MedStar
Health,
5.00%,
8/15/31
5,080
5,234
Maryland
HHEFA,
MedStar
Health,
5.00%,
8/15/38
900
916
Maryland
HHEFA,
MedStar
Health,
5.00%,
8/15/42
13,285
13,456
Maryland
HHEFA,
MedStar
Health,
Series A,
4.00%,
5/15/47
7,840
7,140
Maryland
HHEFA,
MedStar
Health,
Series A,
5.00%,
8/15/27
4,005
4,054
Maryland
HHEFA,
MedStar
Health,
Series A,
5.00%,
8/15/38
2,045
2,056
Maryland
HHEFA,
MedStar
Health,
Series A,
5.00%,
8/15/41
10,840
10,893
Maryland
HHEFA,
MedStar
Health,
Series A,
5.00%,
5/15/42
14,870
15,282
Maryland
HHEFA,
MedStar
Health,
Series A,
5.00%,
5/15/45
44,620
45,583
Maryland
HHEFA,
MedStar
Health,
Series B,
4.00%,
8/15/38
885
868
Maryland
HHEFA,
MedStar
Health,
Series B,
5.00%,
8/15/33
2,000
2,017
Maryland
HHEFA,
MedStar
Health,
Series B,
5.00%,
8/15/38
10,520
10,587
Maryland
HHEFA,
Mercy
Medical
Center,
Series A,
5.00%,
7/1/32
1,830
1,887
Maryland
HHEFA,
Mercy
Medical
Center,
Series A,
5.00%,
7/1/33
1,000
1,029
Maryland
HHEFA,
Mercy
Medical
Center,
Series A,
5.00%,
7/1/34
1,200
1,233
Maryland
HHEFA,
Mercy
Medical
Center,
Series A,
5.00%,
7/1/36
1,500
1,534
Maryland
HHEFA,
Mercy
Medical
Center,
Series A,
5.00%,
7/1/38
6,345
6,442
Maryland
HHEFA,
Meritus
Medical
Center,
4.00%,
7/1/30
845
839
Maryland
HHEFA,
Meritus
Medical
Center,
5.00%,
7/1/28
1,030
1,058
Maryland
HHEFA,
Meritus
Medical
Center,
5.00%,
7/1/34
1,000
1,020
Maryland
HHEFA,
Meritus
Medical
Center,
5.00%,
7/1/40
16,375
16,520
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
15
Par
$
Value
(Amounts
in
000s)
Maryland
HHEFA,
Meritus
Medical
Center,
5.00%,
7/1/45
19,035
19,071
Maryland
HHEFA,
Peninsula
Regional
Health
System,
Series A,
4.00%,
7/1/48
13,160
12,042
Maryland
HHEFA,
Peninsula
Regional
Health
System,
Series A,
5.00%,
7/1/33
1,200
1,279
Maryland
HHEFA,
Saint
John's
College,
4.00%,
10/1/40
1,000
938
Maryland
HHEFA,
Stevenson
Univ.
Project,
4.00%,
6/1/35
1,225
1,153
Maryland
HHEFA,
Stevenson
Univ.
Project,
4.00%,
6/1/36
350
326
Maryland
HHEFA,
Stevenson
Univ.
Project,
4.00%,
6/1/37
2,520
2,320
Maryland
HHEFA,
Stevenson
Univ.
Project,
4.00%,
6/1/39
1,525
1,380
Maryland
HHEFA,
Stevenson
Univ.
Project,
4.00%,
6/1/40
400
358
Maryland
HHEFA,
Stevenson
Univ.
Project,
4.00%,
6/1/41
1,375
1,225
Maryland
HHEFA,
Stevenson
Univ.
Project,
5.00%,
6/1/29
825
872
Maryland
HHEFA,
Stevenson
Univ.
Project,
5.00%,
6/1/31
1,205
1,281
Maryland
HHEFA,
Stevenson
Univ.
Project,
5.00%,
6/1/33
1,375
1,445
Maryland
HHEFA,
Stevenson
Univ.
Project,
Series A,
4.00%,
6/1/46
4,515
3,891
Maryland
HHEFA,
Stevenson
Univ.
Project,
Series A,
4.00%,
6/1/51
10,385
8,693
Maryland
HHEFA,
Stevenson
Univ.
Project,
Series A,
4.00%,
6/1/55
10,185
8,325
Maryland
HHEFA,
Univ.
of
Maryland
Medical
System,
5.00%,
7/1/33
5,305
5,482
Maryland
HHEFA,
Univ.
of
Maryland
Medical
System,
5.00%,
7/1/34
2,910
3,000
Maryland
HHEFA,
Univ.
of
Maryland
Medical
System,
5.00%,
7/1/35
2,100
2,160
Maryland
HHEFA,
Univ.
of
Maryland
Medical
System,
Series B,
5.00%,
7/1/34
500
523
Maryland
HHEFA,
Univ.
of
Maryland
Medical
System,
Series D,
VRDN,
1.00%,
7/1/41
770
770
Maryland
HHEFA,
Western
Maryland
Health,
5.25%,
7/1/34
(Prerefunded
7/1/24) (3)
7,505
7,808
Maryland
IDA,
McDonogh
School,
4.00%,
9/1/43
1,000
955
Maryland
IDA,
McDonogh
School,
4.00%,
9/1/48
1,600
1,472
Maryland
Stadium
Auth.
Built
to
Learn
Revenue,
4.00%,
6/1/35
1,500
1,526
Maryland
Stadium
Auth.
Built
to
Learn
Revenue,
4.00%,
6/1/37
4,000
4,002
Maryland
Stadium
Auth.
Built
to
Learn
Revenue,
4.00%,
6/1/38
4,125
4,106
Maryland
Stadium
Auth.
Built
to
Learn
Revenue,
4.00%,
6/1/51
6,500
6,071
Maryland
Stadium
Auth.
Built
to
Learn
Revenue,
Series A,
4.00%,
6/1/36
1,185
1,197
Maryland
Stadium
Auth.
Built
to
Learn
Revenue,
Series A,
4.00%,
6/1/37
2,625
2,627
Maryland
Stadium
Auth.
Built
to
Learn
Revenue,
Series A,
4.00%,
6/1/41
3,135
3,042
Maryland
Stadium
Auth.
Built
to
Learn
Revenue,
Series A,
4.00%,
6/1/47
5,000
4,739
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
16
Par
$
Value
(Amounts
in
000s)
Maryland
Stadium
Auth.,
Baltimore
City
Public
Schools
Construction
&
Revitalization,
5.00%,
5/1/35
6,270
6,745
Maryland
Stadium
Auth.,
Baltimore
City
Public
Schools
Construction
&
Revitalization,
5.00%,
5/1/37
5,250
5,610
Maryland
Stadium
Auth.,
Baltimore
City
Public
Schools
Construction
&
Revitalization,
5.00%,
5/1/50
40,860
44,777
Maryland
Stadium
Auth.,
Baltimore
City
Public
Schools
Construction
&
Revitalization,
Series B,
5.00%,
5/1/47
13,590
14,957
Maryland
Stadium
Auth.,
Baltimore
City
Public
Schools
Construction
&
Revitalization,
Unrefunded
Balance,
Series A,
5.00%,
5/1/47
13,825
14,589
Maryland
Transportation
Auth.,
Series A,
5.00%,
7/1/34
1,325
1,521
Maryland
Transportation
Auth.,
Series A,
5.00%,
7/1/46
10,775
11,806
Maryland
Transportation
Auth.,
Series A,
5.00%,
7/1/51
13,000
14,113
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
4.00%,
6/1/33 (1)
3,250
3,212
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
4.00%,
6/1/37 (1)
7,530
7,255
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
4.00%,
6/1/38 (1)
7,830
7,489
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
4.00%,
6/1/39 (1)
8,145
7,718
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
5.00%,
6/1/23 (1)
2,440
2,442
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
5.00%,
6/1/24 (1)
2,560
2,563
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
5.00%,
6/1/25 (1)
2,690
2,692
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
5.00%,
6/1/26 (1)
2,820
2,822
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
5.00%,
6/1/27 (1)
2,965
2,967
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
5.00%,
6/1/30 (1)
4,615
4,943
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
5.00%,
6/1/31 (1)
5,895
6,305
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
Series 2012A,
5.00%,
6/1/28 (1)
2,000
2,136
Maryland
Transportation
Auth.,
Baltimore/Washington
Int'l.
Airport,
Series 2019,
5.00%,
6/1/28 (1)
3,110
3,112
Maryland
Transportation
Auth.,
Transportation
Fac.
Project,
4.00%,
7/1/45
8,170
8,175
Maryland
Transportation
Auth.,
Transportation
Fac.
Project,
4.00%,
7/1/50
5,400
5,220
Maryland,
State
&
Local
Facs.
Loan,
Series A,
GO,
4.00%,
3/15/35
16,000
16,672
Montgomery
County,
Series E,
GO,
VRDN,
1.05%,
11/1/37
2,400
2,400
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
17
Par
$
Value
(Amounts
in
000s)
Montgomery
County
Housing
Opportunities
Commission,
Series A,
3.00%,
1/1/50
7,810
7,528
Montgomery
County
Housing
Opportunities
Commission,
Series A,
4.00%,
7/1/46
2,595
2,599
Montgomery
County
Housing
Opportunities
Commission,
Series A,
5.00%,
7/1/52
3,935
4,078
Montgomery
County
Housing
Opportunities
Commission,
Series C,
2.85%,
1/1/51
30,285
21,525
Montgomery
County,
Friends
House
Retirement
Community,
Series A,
5.375%,
7/1/48
3,500
3,024
Montgomery
County,
Trinity
Healthcare,
4.00%,
12/1/44
10,740
10,344
Montgomery
County,
Trinity
Healthcare,
5.00%,
12/1/44
22,250
22,626
Montgomery
County,
Trinity
Healthcare,
Series 2016MD,
5.00%,
12/1/45
13,955
14,210
Montgomery
County,
West
Germantown
Dev.
Dist.,
4.00%,
7/1/24
930
945
Montgomery
County,
West
Germantown
Dev.
Dist.,
4.00%,
7/1/26
505
512
Montgomery
County,
West
Germantown
Dev.
Dist.,
4.00%,
7/1/27
1,000
1,012
Prince
George's
County,
National
Harbor
Project,
5.00%,
7/1/31
2,535
2,898
Prince
George's
County,
National
Harbor
Project,
5.00%,
7/1/32
1,160
1,337
Prince
George's
County,
Westphalia
Town
Center
Project,
5.00%,
7/1/30 (2)
600
601
Prince
George's
County,
Westphalia
Town
Center
Project,
5.125%,
7/1/39 (2)
1,350
1,311
Prince
George's
County,
Westphalia
Town
Center
Project,
5.25%,
7/1/48 (2)
4,500
4,330
Rockville,
Ingelside
at
King
Farm,
Series A-1,
5.00%,
11/1/24
1,785
1,781
Rockville,
Ingelside
at
King
Farm,
Series A-1,
5.00%,
11/1/26
1,000
991
Rockville,
Ingelside
at
King
Farm,
Series A-1,
5.00%,
11/1/30
790
764
Rockville,
Ingelside
at
King
Farm,
Series A-1,
5.00%,
11/1/32
525
501
Rockville,
Ingelside
at
King
Farm,
Series A-1,
5.00%,
11/1/37
4,990
4,600
Rockville,
Ingelside
at
King
Farm,
Series A-2,
5.00%,
11/1/23
750
750
Rockville,
Ingelside
at
King
Farm,
Series A-2,
5.00%,
11/1/25
500
497
Rockville,
Ingelside
at
King
Farm,
Series A-2,
5.00%,
11/1/26
500
495
Rockville,
Ingelside
at
King
Farm,
Series A-2,
5.00%,
11/1/28
1,375
1,347
Rockville,
Ingelside
at
King
Farm,
Series A-2,
5.00%,
11/1/30
1,515
1,466
Rockville,
Ingelside
at
King
Farm,
Series A-2,
5.00%,
11/1/35
1,000
934
Rockville,
Ingelside
at
King
Farm,
Series B,
4.25%,
11/1/37
1,000
821
Rockville,
Ingelside
at
King
Farm,
Series B,
4.50%,
11/1/43
1,675
1,371
Rockville,
Ingelside
at
King
Farm,
Series B,
5.00%,
11/1/42
1,750
1,556
Rockville,
Ingelside
at
King
Farm,
Series B,
5.00%,
11/1/47
7,170
6,182
Saint
Mary's
County,
GO,
4.00%,
8/1/38
1,450
1,492
Saint
Mary's
County,
GO,
4.00%,
8/1/39
1,975
2,011
Saint
Mary's
County,
GO,
4.00%,
8/1/40
2,050
2,079
Saint
Mary's
County,
GO,
4.00%,
8/1/41
1,000
1,010
Saint
Mary's
County,
GO,
4.00%,
8/1/42
2,220
2,238
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
18
Par
$
Value
(Amounts
in
000s)
Univ.
System
of
Maryland,
Auxiliary
Fac.
&
Tuition,
2022A,
4.00%,
4/1/33
2,885
3,077
Univ.
System
of
Maryland,
Auxiliary
Fac.
&
Tuition,
Series 2016A,
4.00%,
4/1/33
9,040
9,276
Univ.
System
of
Maryland,
Auxiliary
Fac.
&
Tuition,
Series A,
4.00%,
4/1/34
7,390
7,535
Univ.
System
of
Maryland,
Auxiliary
Fac.
&
Tuition,
Series A,
4.00%,
4/1/47
2,000
1,973
Univ.
System
of
Maryland,
Auxiliary
Fac.
&
Tuition,
Series A,
4.00%,
4/1/51
29,540
28,807
Washington
County,
Economic
Dev.,
Homewood
Maryland
Obligated
Group,
4.00%,
5/1/28
1,875
1,760
Washington
County,
Economic
Dev.,
Homewood
Maryland
Obligated
Group,
4.00%,
5/1/29
1,950
1,803
Washington
County,
Homewood
Maryland
Obligated
Group,
4.00%,
5/1/36
1,500
1,248
Washington
County,
Homewood
Maryland
Obligated
Group,
4.00%,
5/1/42
5,100
3,930
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
3.00%,
6/1/44
5,845
4,862
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
4.00%,
6/1/36
10,000
10,277
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
4.00%,
6/1/40
(Prerefunded
6/1/24) (3)
4,155
4,241
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
5.00%,
6/1/35
2,225
2,375
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
5.00%,
6/1/38
12,585
13,333
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
2nd Series 2016,
4.00%,
6/1/42
6,545
6,577
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
Series 2014,
4.00%,
6/1/41
(Prerefunded
6/1/24) (3)
5,000
5,103
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
Series 2014,
4.00%,
6/1/42
(Prerefunded
6/1/24) (3)
4,980
5,083
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
Series 2014,
4.00%,
6/1/43
(Prerefunded
6/1/24) (3)
4,020
4,103
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
Series 2014,
4.00%,
6/1/44
(Prerefunded
6/1/24) (3)
4,100
4,184
Washington
Suburban
Sanitary
Commission,
Consolidated
Public
Improvement,
Series 2018,
4.00%,
6/1/41
14,845
14,960
Westminster,
Carroll
Lutheran
Village,
5.125%,
7/1/34
(Prerefunded
7/1/24) (3)
3,040
3,150
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
19
Par
$
Value
(Amounts
in
000s)
Westminster,
Carroll
Lutheran
Village,
5.125%,
7/1/40
(Prerefunded
7/1/24) (3)
3,020
3,129
Westminster,
Carroll
Lutheran
Village,
5.50%,
7/1/44
(Prerefunded
7/1/24) (3)
6,570
6,845
Westminster,
Lutheran
Village
at
Millers
Grant,
Series A,
5.00%,
7/1/24
385
388
Westminster,
Lutheran
Village
at
Millers
Grant,
Series A,
6.00%,
7/1/34
2,600
2,631
Westminster,
Lutheran
Village
at
Millers
Grant,
Series A,
6.125%,
7/1/39
1,750
1,770
Westminster,
Lutheran
Village
at
Millers
Grant,
Series A,
6.25%,
7/1/44
1,665
1,684
2,059,318
MISSISSIPPI
0.1%
Mississippi
Business
Fin.,
VRDN,
1.45%,
7/1/25 (1)
3,000
3,000
3,000
NORTH
CAROLINA
0.1%
Charlotte-Mecklenburg
Hosp.
Auth.,
Series C,
VRDN,
1.00%,
1/15/37
2,400
2,400
2,400
PUERTO
RICO
4.4%
Puerto
Rico
Commonwealth,
GO,
VR,
11/1/43 (9)(10)
11,349
5,164
Puerto
Rico
Commonwealth
Aqueduct
&
Sewer
Auth.,
Series A,
5.00%,
7/1/33 (2)
3,400
3,407
Puerto
Rico
Commonwealth,
Restructured,
Series A,
GO,
Zero
Coupon,
7/1/24
704
647
Puerto
Rico
Commonwealth,
Restructured,
Series A,
GO,
Zero
Coupon,
7/1/33
2,709
1,483
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
4.00%,
7/1/33
9,445
8,209
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
4.00%,
7/1/35
7,717
6,563
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
4.00%,
7/1/37
1,624
1,353
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
4.00%,
7/1/41
2,208
1,768
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
4.00%,
7/1/46
2,296
1,766
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
5.25%,
7/1/23
1,176
1,181
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
5.375%,
7/1/25
2,345
2,377
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
5.625%,
7/1/27
3,705
3,790
Puerto
Rico
Commonwealth,
Restructured,
Series A-1,
GO,
5.75%,
7/1/31
3,895
3,993
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
20
Par
$
Value
(Amounts
in
000s)
Puerto
Rico
Electric
Power
Auth.,
Series A,
5.05%,
7/1/42 (10)(11)
55
40
Puerto
Rico
Electric
Power
Auth.,
Series A,
6.75%,
7/1/36 (10)(11)
4,690
3,541
Puerto
Rico
Electric
Power
Auth.,
Series AAA,
5.25%,
7/1/27 (10)
(11)
850
629
Puerto
Rico
Electric
Power
Auth.,
Series AAA,
5.25%,
7/1/30 (10)
(11)
1,925
1,424
Puerto
Rico
Electric
Power
Auth.,
Series CCC,
5.00%,
7/1/27 (10)
(11)
85
63
Puerto
Rico
Electric
Power
Auth.,
Series CCC,
5.25%,
7/1/28 (10)
(11)
210
155
Puerto
Rico
Electric
Power
Auth.,
Series TT,
5.00%,
7/1/20 (10)
(11)
270
198
Puerto
Rico
Electric
Power
Auth.,
Series TT,
5.00%,
7/1/24 (10)
(11)
1,045
771
Puerto
Rico
Electric
Power
Auth.,
Series TT,
5.00%,
7/1/25 (10)
(11)
340
251
Puerto
Rico
Electric
Power
Auth.,
Series TT,
5.00%,
7/1/26 (10)
(11)
415
306
Puerto
Rico
Electric
Power
Auth.,
Series TT,
5.00%,
7/1/27 (10)
(11)
55
41
Puerto
Rico
Electric
Power
Auth.,
Series TT,
5.00%,
7/1/37 (10)
(11)
4,990
3,680
Puerto
Rico
Electric
Power
Auth.,
Series WW,
5.00%,
7/1/28 (10)
(11)
45
33
Puerto
Rico
Electric
Power
Auth.,
Series WW,
5.25%,
7/1/33 (10)
(11)
460
340
Puerto
Rico
Electric
Power
Auth.,
Series WW,
5.50%,
7/1/18 (10)
(11)
225
167
Puerto
Rico
Electric
Power
Auth.,
Series XX,
5.25%,
7/1/27 (10)
(11)
95
70
Puerto
Rico
Electric
Power
Auth.,
Series XX,
5.25%,
7/1/40 (10)
(11)
255
189
Puerto
Rico
Electric
Power
Auth.,
Series XX,
5.75%,
7/1/36 (10)
(11)
195
146
Puerto
Rico
Electric
Power
Auth.,
Series ZZ,
3.70%,
7/1/17 (10)
(11)
65
47
Puerto
Rico
Electric
Power
Auth.,
Series ZZ,
5.00%,
7/1/17 (10)
(11)
110
81
Puerto
Rico
Electric
Power
Auth.,
Series ZZ,
5.00%,
7/1/19 (10)
(11)
1,110
816
Puerto
Rico
Electric
Power
Auth.,
Series ZZ,
5.00%,
7/1/28 (10)
(11)
90
66
Puerto
Rico
Electric
Power
Auth.,
Series ZZ,
5.25%,
7/1/19 (10)
(11)
830
612
Puerto
Rico
Electric
Power
Auth.,
Series ZZ,
5.25%,
7/1/23 (10)
(11)
240
178
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
21
Par
$
Value
(Amounts
in
000s)
Puerto
Rico
Electric
Power
Auth.,
Series ZZ,
5.25%,
7/1/24 (10)
(11)
95
70
Puerto
Rico
Sales
Tax
Fin.,
Restructured,
Series A-1,
4.75%,
7/1/53
21,070
19,199
Puerto
Rico
Sales
Tax
Fin.,
Restructured,
Series A-1,
5.00%,
7/1/58
13,680
12,946
Puerto
Rico
Sales
Tax
Fin.,
Restructured,
Series A-2,
4.536%,
7/1/53
707
615
Puerto
Rico
Sales
Tax
Fin.,
Restructured
Cofina,
Series A-2,
4.329%,
7/1/40
8,792
7,943
Puerto
Rico
Sales
Tax
Fin.,
Restructured,
Converted,
Series A-2,
4.329%,
7/1/40
4,180
3,776
100,094
Total
Investments
in
Securities
99.1%
(Cost
$2,379,460)
$
2,236,697
Other
Assets
Less
Liabilities
0.9%
19,231
Net
Assets
100.0%
$
2,255,928
‡
Par
is
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Interest
subject
to
alternative
minimum
tax.
(2)
Security
was
purchased
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933
and
may
be
resold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers.
Total
value
of
such
securities
at
period-end
amounts
to
$29,740
and
represents
1.3%
of
net
assets.
(3)
Prerefunded
date
is
used
in
determining
portfolio
maturity.
(4)
Escrowed
to
maturity
(5)
Insured
by
Financial
Guaranty
Insurance
Company
(6)
When-issued
security
(7)
Insured
by
Assured
Guaranty
Municipal
Corporation
(8)
Insured
by
AMBAC
Assurance
Corporation
(9)
Contingent
value
instrument
that
only
pays
out
if
a
portion
of
the
territory's
Sales
and
Use
Tax
outperforms
the
projections
in
the
Oversight
Board’s
Certified
Fiscal
Plan.
(10)
Non-income
producing
(11)
Issuer
is
currently
in
a
bankruptcy
reorganization
proceeding;
the
amount
and
timing
of
future
distributions
is
uncertain.
CDA
Community
Development
Administration/Authority
COP
Certificate
of
Participation
DOT
Department
of
Transportation
GO
General
Obligation
HHEFA
Health
&
Higher
Educational
Facility
Authority
IDA
Industrial
Development
Authority/Agency
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
22
The
accompanying
notes
are
an
integral
part
of
this
Portfolio
of
Investments.
.
.
.
.
.
.
.
.
.
.
VR
Variable
Rate;
rate
shown
is
effective
rate
at
period-end.
The
rates
for
certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
based
on
current
market
conditions.
VRDN
Variable
Rate
Demand
Note
under
which
the
holder
has
the
right
to
sell
the
security
to
the
issuer
or
the
issuer’s
agent
at
a
predetermined
price
on
specified
dates;
such
specified
dates
are
considered
the
effective
maturity
for
purposes
of
the
fund’s
weighted
average
maturity;
rate
shown
is
effective
rate
at
period-end
and
maturity
date
shown
is
final
maturity.
Certain
VRDN
rates
are
not
based
on
a
published
reference
rate
and
spread
but
may
adjust
periodically.
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
Unaudited
Notes
to
Portfolio
of
Investments
23
T.
Rowe
Price
Maryland
Tax-Free
Bond
Fund (the
fund) is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act)
as
an
open-end
management
investment
company
and
follows
accounting
and
reporting
guidance
of
the
Financial
Accounting
Standards
Board
Accounting
Standards
Codification
Topic
946.
The
accompanying
Portfolio
of
Investments
was
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(GAAP).
For
additional
information
on
the
fund’s
significant
accounting
policies
and
investment
related
disclosures,
please
refer
to
the
fund’s most
recent
semiannual
or
annual
shareholder
report
and
its
prospectus.
VALUATION
Fair
Value
The
fund’s
financial
instruments
are
valued
at
the
close
of
the
New
York
Stock
Exchange
(NYSE),
normally
4
p.m.
ET,
each
day
the
NYSE
is
open
for
business,
and
are
reported
at
fair
value,
which
GAAP
defines
as
the
price
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. The fund’s
Board
of
Directors
(the
Board)
has
designated
T.
Rowe
Price
Associates,
Inc.
as
the
fund’s
valuation
designee
(Valuation
Designee).
Subject
to
oversight
by
the
Board,
the
Valuation
Designee
performs
the
following
functions
in
performing
fair
value
determinations:
assesses
and
manages
valuation
risks;
establishes
and
applies
fair
value
methodologies;
tests
fair
value
methodologies;
and
evaluates
pricing
vendors
and
pricing
agents.
The
duties
and
responsibilities
of
the
Valuation
Designee
are
performed
by
its
Valuation
Committee. The
Valuation
Designee provides
periodic
reporting
to
the
Board
on
valuation
matters.
Various
valuation
techniques
and
inputs
are
used
to
determine
the
fair
value
of
financial
instruments.
GAAP
establishes
the
following
fair
value
hierarchy
that
categorizes
the
inputs
used
to
measure
fair
value:
Level
1
–
quoted
prices
(unadjusted)
in
active
markets
for
identical
financial
instruments
that
the
fund
can
access
at
the
reporting
date
Level
2
–
inputs
other
than
Level
1
quoted
prices
that
are
observable,
either
directly
or
indirectly
(including,
but
not
limited
to,
quoted
prices
for
similar
financial
instruments
in
active
markets,
quoted
prices
for
identical
or
similar
financial
instruments
in
inactive
markets,
interest
rates
and
yield
curves,
implied
volatilities,
and
credit
spreads)
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
24
Level
3
–
unobservable
inputs
(including
the Valuation
Designee’s assumptions
in
determining
fair
value)
Observable
inputs
are
developed
using
market
data,
such
as
publicly
available
information
about
actual
events
or
transactions,
and
reflect
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
Unobservable
inputs
are
those
for
which
market
data
are
not
available
and
are
developed
using
the
best
information
available
about
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
GAAP
requires
valuation
techniques
to
maximize
the
use
of
relevant
observable
inputs
and
minimize
the
use
of
unobservable
inputs.
When
multiple
inputs
are
used
to
derive
fair
value,
the
financial
instrument
is
assigned
to
the
level
within
the
fair
value
hierarchy
based
on
the
lowest-level
input
that
is
significant
to
the
fair
value
of
the
financial
instrument.
Input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level
but
rather
the
degree
of
judgment
used
in
determining
those
values.
Valuation
Techniques
Debt
securities
generally
are
traded
in
the over-the-counter
(OTC)
market
and
are
valued
at
prices
furnished
by
independent
pricing
services
or
by
broker
dealers
who
make
markets
in
such
securities.
When
valuing
securities,
the
independent
pricing
services
consider
the
yield
or
price
of
bonds
of
comparable
quality,
coupon,
maturity,
and
type,
as
well
as
prices
quoted
by
dealers
who
make
markets
in
such
securities.
Investments
for
which
market
quotations are
not
readily
available
or
deemed
unreliable
are
valued
at
fair
value
as
determined
in
good
faith
by
the
Valuation
Designee.
The
Valuation
Designee
has
adopted
methodologies
for
determining
the
fair
value
of
investments
for
which
market
quotations
are
not
readily
available
or
deemed
unreliable,
including
the
use
of
other
pricing
sources.
Factors
used
in
determining
fair
value
vary
by
type
of
investment
and
may
include
market
or
investment
specific
considerations.
The
Valuation
Designee typically
will
afford
greatest
weight
to
actual
prices
in
arm’s
length
transactions,
to
the
extent
they
represent
orderly
transactions
between
market
participants,
transaction
information
can
be
reliably
obtained,
and
prices
are
deemed
representative
of
fair
value.
However,
the
Valuation
Designee may
also
consider
other
valuation
methods
such
as
market-based
valuation
multiples;
a
discount
or
premium
from
market
value
of
a
similar,
freely
traded
security
of
the
same
issuer;
discounted
cash
flows;
yield
to
maturity;
or
some
combination.
Fair
value
determinations
are
reviewed
on
a
regular
basis.
Because
any
fair
value
determination
involves
a
significant
amount
of
judgment,
there
is
a
degree
of
subjectivity
inherent
in
such
pricing
decisions. Fair
value
prices
determined
by
the
Valuation
Designee could
differ
from
those
of
other
market
participants,
and
it
is
possible
that
the
fair
value
determined
for
a
security
may
be
materially
different
from
the
value
that
could
be
realized
upon
the
sale
of
that
security.
T.
ROWE
PRICE
Maryland
Tax-Free
Bond
Fund
25
Valuation
Inputs
On
November
30,
2022,
all
of
the
fund’s
financial
instruments
were
classified
as
Level
2,
based
on
the
inputs
used
to
determine
their
fair
values.
OTHER
MATTERS
Unpredictable
events
such
as
environmental
or
natural
disasters,
war,
terrorism,
pandemics,
outbreaks
of
infectious
diseases,
and
similar
public
health
threats
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
a
fund
invests.
Certain
events
may
cause
instability
across
global
markets,
including
reduced
liquidity
and
disruptions
in
trading
markets,
while
some
events
may
affect
certain
geographic
regions,
countries,
sectors,
and
industries
more
significantly
than
others,
and
exacerbate
other
pre-existing
political,
social,
and
economic
risks.
Since
2020,
a
novel
strain
of
coronavirus
(COVID-19)
has
resulted
in
disruptions
to
global
business
activity
and
caused
significant
volatility
and
declines
in
global
financial
markets.
In
February
2022,
Russian
forces
entered
Ukraine
and
commenced
an
armed
conflict
leading
to
economic
sanctions
being
imposed
on
Russia
and
certain
of
its
citizens,
creating
impacts
on
Russian-related
stocks
and
debt
and
greater
volatility
in
global
markets.
These
are
recent
examples
of
global
events
which
may
have
a
negative
impact
on
the
values
of
certain
portfolio
holdings
or
the
fund’s
overall
performance.
Management
is
actively
monitoring
the
risks
and
financial
impacts
arising
from
these
events.
F87-054Q3
11/22