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Nuveen Arizona Quality Municipal Income Fund (NAZ)

Filed: 4 Aug 16, 8:00pm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2016

 

 

Nuveen Arizona Premium Income Municipal Fund

(Exact name of registrant as specified in its charter)

 

 

 

Massachusetts 811-07278 36-3847197

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

333 West Wacker Drive

Chicago, Illinois

 60606
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (800) 257-8787

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 20e-4(c) under the Exchange Act (17 CFR 240.20e-4(c))

 

 

 


Item 8.01.Other Events.

Investment Policy Revision

Effective August 5, 2016, a number of Nuveen AMT-Free and non-AMT municipal closed-end funds have approved changes to their investment policies altering the limits on exposure to securities subject to the federal alternative minimum tax applicable to individuals (AMT).

AMT FREE MUNICIPAL FUNDS

The two AMT-Free funds listed below adopted a new investment policy to require the funds to invest 100% of its managed assets in securities the income from which is exempt from AMT at the time of purchase. While the funds were previously being managed as such, the new AMT policy will be in addition to the current policy which requires that only 80% of the funds’ assets be invested in securities exempt from the AMT. The 80% policy was adopted to meet the “Names Rule” under the Investment Company Act of 1940 and is subject to change by the board upon 60 days’ notice to shareholders. The new 100% AMT policy is subject to change by the fund’s board without shareholder notice. The new AMT policy is consistent with Nuveen’s other AMT-Free funds. The new policy was adopted for the following funds:

 

Ticker

  

Nuveen Fund Name

NRK  

Nuveen New York AMT-Free Municipal Income Fund

NKX  

Nuveen California AMT-Free Municipal Income Fund

MUNICIPAL FUNDS THAT ARE NOT AMT-FREE

All of the Nuveen municipal closed-end funds listed below have adopted an investment policy to limit the amount securities subject to AMT to no more than 20% of a fund’s managed assets. As set forth below the vast majority of these funds previously did not have a limit on AMT securities while six funds had a 30% limit on AMT securities. The new AMT investment policy will replace each fund’s old investment policy. Together with a number of other Nuveen funds, these changes will create a uniform 20% limit on AMT securities across Nuveen’s municipal complex. The following is a list of the funds adopting the new 20% limit and each fund’s previous investment policy with respect to AMT securities.

 

Ticker

  

Nuveen Fund Name

  

Prior AMT

Exposure Limit

  New AMT Policy
Limit

NAZ

  

Nuveen Arizona Premium Income Municipal Fund

  30%  20%

NEV

  

Nuveen Enhanced Municipal Value Fund

  30%  20%

NHA

  

Nuveen Municipal 2021 Target Term Fund

  30%  20%

NID

  

Nuveen Intermediate Duration Municipal Term Fund

  30%  20%

NIQ

  

Nuveen Intermediate Duration Quality Municipal Term Fund

  30%  20%

NMZ

  

Nuveen Municipal High Income Opportunity Fund

  30%  20%

NAC

  

Nuveen California Dividend Advantage Municipal Fund

  No Limit  20%

NAD

  

Nuveen Dividend Advantage Municipal Fund

  No Limit  20%

NAN

  

Nuveen New York Dividend Advantage Municipal Fund

  No Limit  20%

NCA

  

Nuveen California Municipal Value Fund, Inc.

  No Limit  20%

NIM

  

Nuveen Select Maturities Municipal Fund

  No Limit  20%

NKG

  

Nuveen Georgia Dividend Advantage Municipal Fund 2

  No Limit  20%

NMI

  

Nuveen Municipal Income Fund, Inc.

  No Limit  20%


Ticker

  

Nuveen Fund Name

  

Prior AMT

Exposure Limit

  New AMT Policy
Limit

NMS

  

Nuveen Minnesota Municipal Income Fund

  No Limit  20%

NMT

  

Nuveen Massachusetts Premium Income Municipal Fund

  No Limit  20%

NMY

  

Nuveen Maryland Premium Income Municipal Fund

  No Limit  20%

NNC

  

Nuveen North Carolina Premium Income Municipal Fund

  No Limit  20%

NNY

  

Nuveen New York Municipal Value Fund, Inc.

  No Limit  20%

NOM

  

Nuveen Missouri Premium Income Municipal Fund

  No Limit  20%

NPV

  

Nuveen Virginia Premium Income Municipal Fund

  No Limit  20%

NQP

  

Nuveen Pennsylvania Investment Quality Municipal Fund

  No Limit  20%

NTC

  

Nuveen Connecticut Premium Income Municipal Fund

  No Limit  20%

NTX

  

Nuveen Texas Quality Income Municipal Fund

  No Limit  20%

NUM

  

Nuveen Michigan Quality Income Municipal Fund

  No Limit  20%

NUO

  

Nuveen Ohio Quality Income Municipal Fund

  No Limit  20%

NUV

  

Nuveen Municipal Value Fund, Inc.

  No Limit  20%

NVX

  

Nuveen California Dividend Advantage Municipal Fund 2

  No Limit  20%

NXJ

  

Nuveen New Jersey Dividend Advantage Municipal Fund

  No Limit  20%

NZF

  

Nuveen Enhanced Municipal Credit Opportunities Fund

  No Limit  20%

NZH

  

Nuveen California Dividend Advantage Municipal Fund 3

  No Limit  20%


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  NUVEEN ARIZONA PREMIUM INCOME
MUNICIPAL FUND
Date: August 5, 2016  By: 

/s/ Kevin J. McCarthy

   Kevin J. McCarthy
   Vice President and Secretary