UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act number 811-04033 --------------------------------------------------- Sit Tax-Free Income Fund, a series of Sit Mutual Funds II, Inc. - -------------------------------------------------------------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER) 3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402 - -------------------------------------------------------------------------------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) Kelly K . Boston, Staff Attorney - -------------------------------------------------------------------------------- 3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402 - -------------------------------------------------------------------------------- (NAME AND ADDRESS OF AGENT FOR SERVICE) Registrant's telephone number, including area code: 612-332-3223 ---------------------------- Date of fiscal year end: March 31, 2005 ------------------------------------------------------- Date of reporting period: July 1, 2004 - June 30, 2005 ------------------------------------------------------ Proxy Vote Summary Report from 07/01/04 to 06/30/05 SIT TAX-FREE INCOME FUND Meeting Issuer / Symbol CUSIP / Mgmt. Fund Vote Date Ballot Issues Proponent Rec. Cast - ---------------------------------------------------------------------------------------------------------------------- 5/26/2005 The Blackrock Insured Municipal 2008 Term Trust Inc 09247K109 1.1 Elect Director Andrew F. Brimmer Mgmt For For 1.2 Elect Director Kent Dixon Mgmt For For 1.3 Elect Director Kathleen F. Feldstein Mgmt For For 1.4 Elect Director R. Glenn Hubbard Mgmt For For 1.5 Elect Director Robert S. Kapito Mgmt For For -1- SIGNATURES Pursuant to the requirements of 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. (Registrant) Sit Tax-Free Income Fund, a series of Sit Mutual Funds II, Inc. ------------------------------------------------------------------- By (Signature and Title)*/s/ Paul E. Rasmussen, Vice President ------------------------------------------------------- Date August 19, 2005 --------------------------------------------------------------------------- * Print the name and title of each signing officer under his or her signature.