Invesco Pennsylvania Value Municipal Income Trust

Regulatory Filings • Mar 27, 2009

N-Q 1 c49461nvq.htm N-Q N-Q PAGEBREAK

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-7398

Van Kampen Pennsylvania Value Municipal Income Trust

(Exact name of registrant as specified in charter)

522 Fifth Avenue, New York, New York 10036

(Address of principal executive offices) (Zip code)

Edward C. Wood III 522 Fifth Avenue, New York, New York 10036

(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-762-4000

Date of fiscal year end: 10/31

Date of reporting period: 1/31/09

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Item 1. Schedule of Investments.

The Trust’s schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows:

Van Kampen Pennsylvania Value Municipal Income Trust Portfolio of Investments January 31, 2009 (Unaudited)

Par
Amount
(000)	Description	Coupon	Maturity	Value
	Municipal Bonds 175.0%
	Pennsylvania 168.7%
$ 2,000	Abington, PA Sch Dist, Ser A
(FSA Insd)	5.000 %	04/01/32	$ 1,970,180
3,000	Allegheny Cnty, PA Arpt Auth Rev
Pittsburgh Intl Arpt Rfdg (MBIA
Insd) (AMT)	5.750	01/01/18	3,042,210
2,000	Allegheny Cnty, PA Higher Ed
Bldg Auth Univ Rev Carnegie
Mellon Univ (a)	5.125	03/01/32	1,992,690
2,750	Allegheny Cnty, PA Higher Ed
Bldg Auth Univ Rev Carnegie
Mellon Univ (a)	5.250	03/01/32	2,681,663
1,165	Allegheny Cnty, PA Higher Ed
Bldg Auth Univ Rev Duquesne
Univ	5.000	03/01/21	1,191,772
1,200	Allegheny Cnty, PA Higher Ed
Bldg Auth Univ Rev Duquesne
Univ	5.000	03/01/33	1,063,404
1,000	Allegheny Cnty, PA Higher Ed
Bldg Auth Univ Rev Robert
Morris Univ, Ser A	6.000	10/15/38	695,070
1,360	Allegheny Cnty, PA Hosp Dev
Auth Rev Hlth Sys, Ser A (MBIA
Insd) (Prerefunded @
11/15/10)	6.500	11/15/30	1,515,013
6,000	Allegheny Cnty, PA Hosp Dev
Auth Rev Hlth Sys West Penn,
Ser A	5.375	11/15/40	3,130,800
735	Allegheny Cnty, PA Hosp Dev
Auth Rev OH Vly Gen Hosp
Proj, Ser A	5.000	04/01/25	527,605

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 3,145	Allegheny Cnty, PA Hosp Dev
Auth Rev OH Vly Gen Hosp
Proj, Ser A	5.125 %	04/01/35	$ 2,010,693
2,000	Allegheny Cnty, PA Indl Dev Auth
Lease Rev Cargo Fac Afco
Cargo PIT LLC (AMT)	6.625	09/01/24	1,494,460
1,130	Allegheny Cnty, PA Indl Dev Auth
Lease Rev Residential Res Inc
Proj	5.125	09/01/31	796,040
3,000	Allegheny Cnty, PA Port Auth Spl
Rev Trans (MBIA Insd)	5.000	03/01/29	2,687,790
1,155	Allegheny Cnty, PA Redev Auth
Tax Increment Rev Robinson
Mall Proj, Ser A	7.000	11/01/17	1,160,567
400	Allegheny Cnty, PA Residential
Fin Auth Mtg Rev Single Family,
Ser II-1 (GNMA Collateralized)
(AMT)	5.800	05/01/21	405,136
615	Allegheny Cnty, PA Residential
Fin Auth Mtg Rev Single Family,
Ser II-2 (GNMA Collateralized)
(AMT)	5.800	11/01/20	622,983
3,100	Allegheny Cnty, PA Residential
Fin Auth Mtg Rev Single Family,
Ser KK-2 (GNMA Collateralized)
(AMT)	5.750	05/01/33	2,944,442
1,510	Allegheny Cnty, PA Residential
Fin Auth Mtg Rev Single Family,
Ser MM (GNMA Collateralized)
(AMT)	5.200	05/01/33	1,323,409
460	Allegheny Cnty, PA San Auth Swr
Rev (MBIA Insd)	5.500	12/01/30	461,063

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 1,000	Allegheny Cnty, PA San Auth Swr
Rev (MBIA Insd)	5.750 %	12/01/13	$ 1,069,860
2,220	Allegheny Cnty, PA San Auth Swr
Rev (MBIA Insd) (Prerefunded
@ 12/01/10)	5.750	12/01/17	2,437,049
1,830	Allegheny Cnty, PA San Auth Swr
Rev (MBIA Insd) (Prerefunded
@ 12/01/10)	5.750	12/01/18	2,008,919
1,000	Allegheny Cnty, PA, Ser C 61
(AGL Insd)	5.000	12/01/33	983,170
4,935	Beaver Cnty, PA NTS (FSA
Insd) (b)	5.550	11/15/31	5,058,720
1,500	Berks Cnty, PA Indl Dev Auth
First Mtg Rev Rfdg One
Douglassville Proj A (AMT)	6.125	11/01/34	1,018,275
1,800	Berks Cnty, PA Muni Auth
Albright College Proj	5.500	10/01/17	1,478,484
1,695	Berks Cnty, PA Muni Auth
Albright College Proj Rfdg, Ser
A	5.500	10/01/16	1,433,292
3,000	Bethlehem, PA Auth Wtr Gtd
(FSA Insd)	5.000	11/15/19	3,200,520
1,000	Bradford Cnty, PA Indl Dev Auth
Solid Waste Disp Rev Intl Paper
Rfdg, Ser B (AMT)	5.200	12/01/19	712,420
2,000	Bucks Cnty, PA Indl Dev Auth
Retirement Cmnty Fac Rev
Ann’s Choice Inc, Ser A	6.250	01/01/35	1,269,760
1,200	Bucks Cnty, PA Indl Dev Auth
Rev Lutheran Cmnty Telford
Ctr	5.750	01/01/37	700,848
2,230	Burrell, PA Sch Dist, Ser A (FSA
Insd)	5.000	07/15/25	2,279,216

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 1,000	Canon McMillan Sch Dist PA, Ser
B (MBIA Insd)	5.500 %	12/01/29	$ 993,790
1,635	Carbon Cnty, PA Indl Dev Auth
Panther Creek Partn Proj Rfdg
(AMT)	6.650	05/01/10	1,661,193
1,000	Chartiers Vly, PA Indl & Coml Dev
Auth First Mtg Rev Asbury Hlth
Ctr Rfdg	6.375	12/01/19	860,490
1,000	Chartiers Vly, PA Indl & Coml Dev
Auth First Mtg Rev Asbury Hlth
Ctr Rfdg	6.375	12/01/24	762,250
1,000	Connellsville, PA Area Sch Dist
Nts, Ser B (FSA Insd)	5.000	11/15/37	967,340
1,500	Crawford Cnty, PA Hosp Auth Sr
Living Fac Rev Westbury Utd
Methodist Cmnty	6.250	08/15/29	1,077,120
1,000	Cumberland Cnty, PA Muni Auth
Dickinson College	5.000	11/01/26	916,630
1,000	Cumberland Cnty, PA Muni Auth
Dickinson College, Ser A
(AMBAC Insd) (Prerefunded @
11/01/10)	5.500	11/01/30	1,081,230
2,000	Cumberland Cnty, PA Muni Auth
Messiah Village Proj, Ser A	6.000	07/01/35	1,451,720
2,750	Cumberland Cnty, PA Muni Auth
Rev Diakon Lutheran Ministries
Proj	5.000	01/01/27	1,960,172
5,000	Dauphin Cnty, PA Gen Auth Hosp
Rev Hapsco West PA Hosp Proj
B Rfdg (MBIA Insd) (c)	6.250	07/01/16	5,809,900
1,000	Deer Lakes Sch Dist PA (AGL
Insd) (b)	5.375	04/01/34	1,003,420

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 360	Delaware Cnty, PA Auth College
Cabrini College (Syncora Gtd)	5.750 %	07/01/23	$ 326,045
1,640	Delaware Cnty, PA Auth College
Cabrini College (Syncora Gtd)
(Prerefunded @ 7/01/09)	5.750	07/01/23	1,676,195
1,500	Delaware Cnty, PA Auth College
Neumann College	6.250	10/01/38	1,258,680
2,295	Delaware Cnty, PA Auth College
Neumann College Rfdg	5.875	10/01/21	2,109,977
2,000	Delaware Cnty, PA Auth College
Neumann College Rfdg	6.000	10/01/31	1,674,180
1,000	Delaware Cnty, PA Auth Rev
White Horse Vlg Proj Rfdg, Ser
A (Prerefunded @ 7/01/10)	7.625	07/01/30	1,104,120
2,750	Delaware Cnty, PA Indl Dev Auth
Rev Wtr Fac Aqua PA Inc Proj,
Ser A (MBIA Insd) (AMT)	5.000	11/01/37	2,108,507
9,300	Delaware Cnty, PA Indl Dev Auth
Rev Wtr Fac Aqua PA Inc Proj,
Ser B (MBIA Insd) (AMT)	5.000	11/01/36	7,165,371
4,000	Delaware Cnty, PA Indl Dev Auth
Rev Wtr Fac Aqua PA Inc Proj,
Ser C (MBIA Insd) (AMT)	5.000	02/01/35	3,111,160
1,750	Delaware Cnty, PA Indl Dev Auth
Rev Wtr Fac (MBIA Insd)
(AMT)	6.000	06/01/29	1,625,820
2,500	Delaware Cnty, PA Indl Dev Auth
Wtr Fac PA Subn Wtr (AMBAC
Insd) (AMT)	5.350	10/01/31	2,106,550
8,000	Delaware Vly, PA Regl Fin Auth
Loc Govt Rev (a)	5.750	07/01/17	8,694,160

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 1,500	Erie, PA Higher Ed Bldg Auth
College Rev Mercyhurst
College	5.500 %	03/15/38	$ 1,129,095
2,800	Erie, PA Sch Dist (AMBAC Insd)
(Prerefunded @ 9/01/10)	5.800	09/01/29	3,021,480
2,735	Exeter Twp, PA Sch Dist (MBIA
Insd)	5.000	05/15/25	2,780,210
1,000	Fayette Cnty, PA (AMBAC Insd)
(Prerefunded @ 11/15/10)	5.625	11/15/28	1,085,090
2,000	Fulton Cnty, PA Indl Dev Auth
Hosp Rev Fulton Cnty Med Ctr
Proj	5.900	07/01/40	1,217,400
1,000	Harrisburg, PA Auth Wtr Rev
Rfdg	5.250	07/15/31	980,590
6,575	Harrisburg, PA Auth Wtr Rev
Rfdg (FSA Insd)	5.000	07/15/21	6,842,076
425	Harveys Lake Gen Muni Auth PA
College Rev Misericordia Proj
(ACA Insd) (Prerefunded @
11/01/09)	6.000	05/01/19	441,452
575	Harveys Lake Gen Muni Auth PA
College Rev Misericordia Proj
(ACA Insd)	6.000	05/01/19	517,592
4,700	Lancaster Cnty, PA Hosp Auth
Rev Brethren Vlg Proj, Ser A	6.500	07/01/40	3,623,136
3,500	Lancaster, PA Higher Ed Auth
Rev Franklin & Marshall
College	5.000	04/15/22	3,558,205
1,000	Lebanon Cnty, PA Hlth Fac
Pleasant View Auth Hlth Ctr Rev
Retirement, Ser A	5.125	12/15/20	732,350

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 1,510	Lehigh Cnty, PA Gen Purp Auth
Cedar Crest College Rfdg
(Syncora Gtd)	5.000 %	04/01/26	$ 1,207,607
2,000	Lehigh Cnty, PA Gen Purp Auth
Rev Good Shepherd Group, Ser
A	5.500	11/01/24	1,921,440
1,000	Lehigh Cnty, PA Gen Purp Auth
Rev Good Shepherd Group, Ser
A	5.625	11/01/34	888,350
1,000	Lehigh Cnty, PA Gen Purp Hosp
Rev Lehigh Vly Hlth, Ser B (FSA
Insd)	5.000	07/01/35	835,920
1,240	Lehigh Northampton, PA Arpt
Lehigh Vly Arpt Sys Rfdg, Ser A
(MBIA Insd) (AMT)	5.000	01/01/20	1,155,767
1,360	Lehigh Northampton, PA Arpt
Lehigh Vly Arpt Sys Rfdg, Ser A
(MBIA Insd) (AMT)	5.000	01/01/22	1,212,970
675	Lehigh Northampton, PA Arpt
Lehigh Vly Arpt Sys Rfdg, Ser A
(MBIA Insd) (AMT)	5.000	01/01/23	585,373
1,500	Lehigh Northampton, PA Arpt, Ser
A (MBIA Insd) (AMT)	6.000	05/15/25	1,457,370
2,700	Lehigh Northampton, PA Arpt, Ser
A (MBIA Insd) (AMT)	6.000	05/15/30	2,518,722
2,500	Luzerne Cnty, PA, Ser B (FSA
Insd)	5.000	12/15/27	2,533,475
6,650	Lycoming Cnty, PA Auth College
Rev PA College of Technology
(AMBAC Insd)	5.350	07/01/26	6,502,370
5,000	Lycoming Cnty, PA Auth College
Rev PA College of Technology
(AMBAC Insd)	5.375	07/01/30	4,752,800

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 5,000	Mercer Cnty, PA Indl Dev Auth
Wtr Fac Sub Corp (MBIA Insd)
(AMT)	6.000 %	07/01/30	$ 4,489,750
1,000	Mercer Cnty, PA
(MBIA Insd)	5.500	10/01/15	1,082,440
1,000	Mifflin Cnty, PA Hosp Auth Rev
(Syncora Gtd) (Prerefunded @
1/01/11)	6.200	07/01/25	1,104,460
2,500	Mifflin Cnty, PA Hosp Auth Rev
(Syncora Gtd) (Prerefunded @
1/01/11)	6.200	07/01/30	2,761,150
3,755	Mifflin Cnty, PA, Ser A (MBIA
Insd)	5.000	09/01/31	3,522,903
3,000	Monroe Cnty, PA Hosp Auth Rev
Hosp Pocono Med Ctr	5.250	01/01/43	1,994,820
3,000	Monroe Cnty, PA Hosp Auth Rev
Hosp Pocono Med Ctr
(Prerefunded @ 1/01/14) (e)	6.000	01/01/43	3,599,220
5,000	Montgomery Cnty, PA Higher Ed
& Hlth Auth Hosp Rev Abington
Mem Hosp, Ser A	5.125	06/01/32	3,791,600
5,000	Montgomery Cnty, PA Higher Ed
& Hlth Auth Rev Dickinson
College Proj, Ser FF-1 (CIFG
Insd)	5.000	05/01/28	4,802,450
9,090	Montgomery Cnty, PA Indl Dev
Auth Retirement Cmnty Rev,
Ser A	4.500	11/15/36	5,294,198
1,500	Montgomery Cnty, PA Indl Dev
Auth Rev Mtg Whitemarsh
Cmnty Proj	7.000	02/01/36	1,024,275
3,000	Montgomery Cnty, PA Indl Dev
Auth Rev Mtg Whitemarsh
Continuing Care	6.250	02/01/35	1,880,460

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 2,000	Montour, PA Sch Dist
(FSA Insd)	5.000 %	04/01/37	$ 1,935,300
4,000	Moon Area Sch Dist PA (FSA
Insd)	5.000	11/15/25	4,127,720
2,345	Moon Indl Dev Auth PA Ed Fac
Rev Ellis Sch Proj (Prerefunded
@ 3/01/09)	5.800	03/01/25	2,355,764
1,500	Mount Lebanon, PA Hosp Auth
Saint Clair Mem Hosp, Ser
A	5.625	07/01/32	1,219,200
2,000	Northampton Cnty, PA Gen Purp
Auth Hosp Rev Saint Lukes
Hosp Proj, Ser A	5.500	08/15/35	1,428,480
1,000	Northeastern York, PA Sch Dist,
Ser B (MBIA Insd)	5.000	04/01/30	957,120
2,000	Northeastern York, PA Sch Dist,
Ser B (MBIA Insd)	5.000	04/01/31	1,897,160
2,100	Owen J. Roberts Sch Dist PA
(FSA Insd)	5.000	05/15/27	2,126,712
875	Pennsylvania Econ Dev Fin Auth
Exempt Fac Rev Reliant Energy,
Ser A (AMT)	6.750	12/01/36	651,936
3,500	Pennsylvania Econ Dev Fin Auth
Exempt Fac Rev Reliant Energy,
Ser B (AMT)	6.750	12/01/36	2,607,745
1,500	Pennsylvania Econ Dev Fin Auth
Exempt Fac Rev Reliant Energy
Seward, Ser A (AMT)	6.750	12/01/36	1,117,605
900	Pennsylvania Econ Dev Fin Auth
Res Recovery Rev Colver Proj
Rfdg, Ser G (AMT)	5.125	12/01/15	710,757
1,585	Pennsylvania Hsg Fin Agy, Ser
100A (AMT)	5.100	10/01/22	1,491,105

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 2,750	Pennsylvania Hsg Fin Agy Single
Family Mtg Rev, Ser 94-A
(AMT)	5.100 %	10/01/31	$ 2,408,285
520	Pennsylvania Hsg Fin Agy Single
Family Mtg, Ser 66-A (AMT)	5.650	04/01/29	518,097
3,000	Pennsylvania St First	5.000	10/01/23	3,187,740
1,000	Pennsylvania St Higher Ed Fac
Auth Rev Clarion Univ Fndtn
Inc, Ser A (Syncora Gtd)	5.000	07/01/28	816,780
1,500	Pennsylvania St Higher Ed Fac
Auth Rev Clarion Univ Fndtn
Inc, Ser A (Syncora Gtd)	5.000	07/01/33	1,154,085
1,500	Pennsylvania St Higher Ed Fac
Auth Rev Clarion Univ Fndtn
Inc, Ser A (Syncora Gtd)	5.250	07/01/18	1,514,640
3,000	Pennsylvania St Higher Ed Fac
Auth Rev Drexel Univ	5.500	05/01/16	3,218,400
4,000	Pennsylvania St Higher Ed Fac
Auth Rev Drexel Univ	5.500	05/01/17	4,327,840
1,000	Pennsylvania St Higher Ed Fac
Auth Rev Geneva College Proj
(Prerefunded @ 4/01/12)	6.125	04/01/22	1,145,790
5,500	Pennsylvania St Higher Ed Fac
Auth Rev La Salle Univ	5.500	05/01/34	4,223,175
1,000	Pennsylvania St Higher Ed Fac
Auth Rev La Salle Univ,
Ser A	5.000	05/01/37	698,050
1,000	Pennsylvania St Higher Ed Fac
Auth Rev La Salle Univ,
Ser A	5.250	05/01/27	795,360
3,000	Pennsylvania St Higher Ed Fac
Auth Rev Messiah College, Ser
AA-3 (Syncora Gtd)	5.500	11/01/22	2,680,650
1,000	Pennsylvania St Higher Ed Fac
Auth Rev PA Univ	5.000	06/01/35	668,020

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 1,540	Pennsylvania St Higher Ed Fac
Auth Rev Thomas Jefferson
Univ	5.375 %	01/01/25	$ 1,553,167
15,925	Pennsylvania St Higher Ed Fac
Auth Rev Trustees Univ PA, Ser
C (a)	5.000	07/15/38	15,517,798
3,320	Pennsylvania St Higher Ed Fac
Auth Rev Univ Sciences
Philadelphia, Ser A (Syncora
Gtd)	5.000	11/01/36	3,014,826
7,850	Pennsylvania St Higher Ed Fac
Auth Rev UPMC Hlth Sys, Ser
A (a)	6.000	01/15/31	7,790,693
6,600	Pennsylvania St Higher Ed Fac
Auth Rev UPMC Hlth Sys, Ser
A (FSA Insd)	5.000	08/01/29	6,023,160
1,200	Pennsylvania St Tpk Com Tpk
Rev, Ser A (AMBAC Insd)	5.250	12/01/21	1,287,720
12,995	Pennsylvania St Tpk Com Tpk
Rev, Ser A1 (AGL Insd) (a)	5.000	06/01/38	12,624,513
2,500	Pennsylvania St Tpk Com Tpk
Rev Sub, Ser A (AGL Insd)	5.000	06/01/39	2,423,925
2,000	Pennsylvania St Univ (a)	5.000	09/01/29	2,011,060
4,000	Pennsylvania St Univ (a)	5.000	09/01/35	3,919,240
1,250	Philadelphia, PA Arpt Rev, Ser A
(MBIA Insd) (AMT)	5.000	06/15/23	1,105,837
2,500	Philadelphia, PA Auth For Indl
Dev Rev First Philadelphia
Charter, Ser A	5.850	08/15/37	1,698,575
2,610	Philadelphia, PA Auth For Indl
Dev Rev Please Touch Museum
Proj	5.250	09/01/21	2,160,036

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 4,230	Philadelphia, PA Auth For Indl
Dev Rev Please Touch Museum
Proj	5.250 %	09/01/26	$ 3,221,822
1,000	Philadelphia, PA Auth For Indl
Dev Rev Please Touch Museum
Proj	5.250	09/01/31	717,470
6,700	Philadelphia, PA Auth For Indl
Dev Rev Please Touch Museum
Proj	5.250	09/01/36	4,625,010
2,500	Philadelphia, PA Auth For Indl
Dev Rev, Ser A	5.500	09/15/37	1,608,375
4,005	Philadelphia, PA Auth Indl Dev
Amern College of
Physicians	5.500	06/15/27	3,968,194
2,250	Philadelphia, PA Auth Indl Dev PA
Arpt Sys Proj, Ser A (MBIA
Insd) (AMT)	5.125	07/01/19	2,188,867
2,500	Philadelphia, PA Auth Indl Dev PA
Arpt Sys Proj, Ser A (MBIA
Insd) (AMT)	5.250	07/01/28	2,133,400
4,000	Philadelphia, PA Auth Indl, Ser B
(FSA Insd) (Prerefunded @
10/01/11)	5.125	10/01/26	4,449,360
11,160	Philadelphia, PA Auth Indl, Ser B
(FSA Insd) (Prerefunded @
10/01/11)	5.500	10/01/17	12,523,306
3,710	Philadelphia, PA Gas Wks Rev
12th, Ser B (MBIA Insd) (c)	7.000	05/15/20	4,707,582
1,000	Philadelphia, PA Hosp & Higher
Ed Fac Auth Rev Chestnut Hill
College (Prerefunded @
10/01/09)	6.000	10/01/29	1,055,550

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 1,455	Philadelphia, PA Hosp & Higher
Ed Fac Auth Rev Cmnty College
Rfdg, Ser B (MBIA Insd)	6.500 %	05/01/09	$ 1,472,300
1,645	Philadelphia, PA Proj Auth Rev,
Ser A (AMBAC Insd)	5.250	02/15/29	1,520,227
1,905	Philadelphia, PA Redev Auth Rev
Neighborhood Trans, Ser A
(MBIA Insd)	5.500	04/15/16	2,004,593
2,955	Philadelphia, PA Redev Auth, Ser
A (AMT)	4.750	12/01/28	2,487,371
11,315	Philadelphia, PA Rfdg, Ser A
(FSA Insd) (a)	5.250	12/15/25	11,594,763
2,500	Philadelphia, PA Sch Dist, Ser E
(BHAC Insd)	5.125	09/01/23	2,628,425
1,040	Philadelphia, PA, Ser B (AGL
Insd)	7.125	07/15/38	1,106,914
500	Pittsburgh & Allegheny Cnty, PA
Pub Aud Hotel Room (AMBAC
Insd)	5.125	02/01/35	450,025
16,000	Pittsburgh & Allegheny Cnty, PA
Pub Aud Regl Asset Dist Sales
Tax (AMBAC Insd)	5.000	02/01/24	15,702,080
4,990	Pittsburgh & Allegheny Cnty, PA
Pub Aud Regl Asset Dist Sales
Tax (AMBAC Insd)	5.000	02/01/29	4,413,256
2,215	Pittsburgh, PA Pub Pkg Auth Rev
Rfdg, Ser A (MBIA Insd)	5.000	12/01/25	2,153,445
5,140	Pittsburgh, PA, Ser A (AMBAC
Insd)	5.500	09/01/17	5,315,223
3,860	Pittsburgh, PA, Ser A (AMBAC
Insd) (Prerefunded @ 3/01/12)	5.500	09/01/17	4,349,795
2,000	Pittsburgh, PA, Ser A (FGIC Insd)
(Prerefunded @ 9/01/09)	5.750	09/01/21	2,061,180

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 3,000	Pittsburgh, PA, Ser A (FGIC Insd)
(Prerefunded @ 9/01/09)	5.750 %	09/01/22	$ 3,091,770
1,000	Pittsburgh, PA Urban Redev Auth
Cent Triangle Tax Increment,
Ser A (Prerefunded @
5/01/09)	6.100	05/01/19	1,014,290
1,430	Pittsburgh, PA Urban Redev Auth
Mtg Rev, Ser A (GNMA
Collateralized) (AMT)	5.000	10/01/36	1,194,336
1,455	Pittsburgh, PA Urban Redev Auth
Mtg Rev, Ser C (GNMA
Collateralized) (AMT)	5.700	04/01/30	1,396,203
2,000	Pittsburgh, PA Wtr & Swr Auth
Wtr & Swr Sys Rev 1st Lien,
Ser D (FSA Insd)	5.000	09/01/24	2,031,440
3,000	Pittsburgh, PA Wtr & Swr Auth
Wtr & Swr Sys Rev 1st Lien,
Ser D (FSA Insd)	5.000	09/01/25	3,016,440
1,345	Radnor Twp, PA Sch Dist, Ser A
(FSA Insd)	5.000	02/15/32	1,325,067
2,300	Radnor Twp, PA Sch Dist, Ser A
(FSA Insd)	5.000	02/15/35	2,250,780
1,500	Radnor Twp, PA Sch Dist, Ser B
(FSA Insd)	5.000	02/15/28	1,523,370
2,000	Rostraver Twp, PA (AMBAC Insd)
(Prerefunded @ 7/01/10)	5.500	07/01/24	2,136,380
1,000	Saxonburg, PA Area Auth Swr &
Wtr Rev (AGL Insd)	5.000	03/01/30	954,810
1,500	Saxonburg, PA Area Auth Swr &
Wtr Rev (AGL Insd)	5.000	03/01/35	1,396,680
1,000	Southcentral, PA Gen Auth Rev
Hanover Hosp Inc (Radian
Insd)	5.000	12/01/30	731,220

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 900	Southcentral, PA Gen Auth Rev
Wellspan (MBIA Insd)	5.375 %	05/15/28	$ 953,505
4,100	Southcentral, PA Gen Auth Rev
Wellspan (MBIA Insd)
(Prerefunded @ 5/15/11)	5.375	05/15/28	4,533,001
2,000	Southcentral, PA Gen Auth Rev
York College Of Penn Assoc
(Syncora Gtd)	5.000	05/01/37	1,804,400
2,360	State Pub Sch Bldg Auth PA Sch
Rev Jefferson Cnty Dubois
Tech Sch (MBIA Insd)	5.375	02/01/23	2,450,341
2,140	Susquehanna Area Regl Arpt
Auth PA Arpt Sys Rev, Ser A
(AMBAC Insd) (AMT)	5.375	01/01/21	2,013,269
5,205	Susquehanna Area Regl Arpt
Auth PA Arpt Sys Rev, Ser A
(AMBAC Insd) (AMT)	5.375	01/01/23	4,691,318
2,545	Susquehanna Area Regl Arpt
Auth PA Arpt Sys Rev, Ser A
(AMBAC Insd) (AMT)	5.500	01/01/18	2,550,192
5,500	Susquehanna Area Regl Arpt
Auth PA Arpt Sys Rev, Ser D	5.375	01/01/18	4,438,115
1,950	Swarthmore Boro Auth PA
College	5.250	09/15/18	2,114,229
2,850	Trinity Area Sch Dist PA (MBIA
Insd)	5.250	11/01/20	3,017,694
1,820	Twin Vly, PA Sch Dist (FSA Insd)
(Prerefunded @ 10/01/15)	5.250	04/01/26	2,197,013
1,000	Union Cnty, PA Higher Ed Fac
Auth Bucknell Univ, Ser A	5.250	04/01/19	1,089,570
2,300	Union Cnty, PA Hosp Auth Hosp
Rev Evangelical Cmnty Hosp
(Syncora Gtd)	5.250	08/01/24	1,916,199

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Pennsylvania (continued)
$ 1,285	Unity Twp, PA Muni Auth Swr Rev
(FSA Insd)	5.000 %	12/01/24	$ 1,311,098
5,025	Washington Cnty, PA, Ser A
(AMBAC Insd)	5.125	09/01/27	4,904,199
825	Washington Cnty, PA, Ser A
(AMBAC Insd) (Prerefunded @
9/01/12)	5.125	09/01/27	934,428
1,500	West Mifflin, PA Area Sch Dist
(FSA Insd) (b)	5.125	04/01/31	1,487,130
500	West Mifflin, PA Area Sch Dist
(FSA Insd) (b)	5.500	04/01/24	535,375
6,000	West Shore, PA Area Hosp Auth
Holy Spirit Hosp Proj	6.250	01/01/32	4,770,420
1,550	Westmoreland Cnty, PA Indl Dev
Auth Rev Retirement Cmnty
Redstone, Ser A	5.750	01/01/26	1,002,865
2,500	York Cnty, PA Indl Dev Auth Wtr
Co Proj (FGIC Insd) (AMT)	4.750	10/01/36	1,773,825
				475,845,680
	Guam 1.3%
2,700	Guam Econ
Dev & Comm Auth Tob Settlement	5.625	06/01/47	1,823,958
505	Guam Govt, Ser A	5.250	11/15/37	328,846
1,585	Guam Intl Arpt Auth Gen, Ser B
(MBIA Insd)	5.250	10/01/21	1,558,277
				3,711,081
	Puerto Rico 2.5%
4,000	Puerto Rico Comwlth Hwy &
Trans Auth Hwy Rev Rfdg, Ser
Y (FSA Insd) (b)	6.250	07/01/21	4,556,680
2,000	Puerto Rico Elec Pwr Auth Rev,
Ser WW	5.000	07/01/28	1,644,840

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Par
Amount
(000)	Description	Coupon	Maturity	Value
	Puerto Rico (continued)
$ 1,000	Puerto Rico Elec Pwr Auth Rev,
Ser WW	5.500 %	07/01/21	$ 953,660
				7,155,180
	U.S. Virgin Islands 2.5%
1,500	University VI Impt, Ser A	5.375	06/01/34	1,137,210
1,000	Virgin Islands Pub Fin Auth Rev
Gross Rcpt Taxes Ln Nt, Ser A	6.375	10/01/19	1,007,310
3,000	Virgin Islands Pub Fin Auth Rev
Gross Rcpt Taxes Ln Nt, Ser A
(ACA Insd) (Prerefunded @
10/01/10)	6.125	10/01/29	3,280,470
1,500	Virgin Islands Pub Fin Auth Rev
Gross Rcpt Taxes Ln Nt, Ser A
(Prerefunded @ 10/01/10)	6.500	10/01/24	1,656,420
				7,081,410
Total Long-Term Investments 175.0% (Cost $533,954,083)				493,793,351
Short-Term Investments 5.0%
Delaware Cnty, PA Auth Rev White Horse Vlg Proj ($400,000 par, yielding
0.620%, 07/01/30 maturity) (LOC: Citizen’s Bank of PA) (d) (f)				400,000
Geisinger Auth, PA Health Sys Geisinger Hlth Sys ($4,500,000 par, yielding
0.350%, 05/15/35 maturity) (d) (f)				4,500,000
Lancaster Cnty, PA Hosp Auth Rev Hlth Sys Lancaster Gen Hosp
($9,000,000 par, yielding 0.320%, 07/01/41 maturity) (LOC: Bank of
America) (d) (f)				9,000,000
Philadelphia, PA Hosps & Higher Ed Fac Auth Hosp Rev Childrens Hosp Proj
($115,000 par, yielding 0.550%, 02/15/14 maturity) (LOC: JP Morgan
Chase Bank) (d) (f)				115,000
Total Short-Term Investments 5.0% (Cost $14,015,000)				14,015,000
Total Investments 180.0% (Cost $547,969,083)				$ 507,808,351

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Description	Value
Liability for Floating Rate Note Obligations Related to Securities Held (15.6%)
(Cost ($44,035,000))
(44,035) Notes with interest rates ranging from 0.44% to 1.78% at
January 31, 2009 and contractual maturities of collateral ranging
from 2017 to 2038 (g)	$ (44,035,000	)
Total Net Investments 164.4% (Cost $503,934,083)	463,773,351
Liabilities in Excess of Other Assets (2.0%)	(5,559,965	)
Preferred Shares (including accrued distributions (62.4%)	(176,060,564	)
Net Assets Applicable to Common Shares 100.0%	$ 282,152,822

Percentages are calculated as a percentage of net assets applicable to common shares. (a) Underlying security related to Inverse Floaters entered into by the Trust. (b) Security purchased on a when-issued, delayed delivery, or forward commitment basis. (c) Escrowed to Maturity (d) Variable Rate Coupon (e) Security has been deemed illiquid. (f) Security includes a put feature allowing the Trust to periodically put the security back to the issuer at amortized cost on specified put dates. The interest rate shown represents the current interest rate earned by the Trust based on the most reset date. (g) Floating rate notes. The interest rates shown reflect the rates in effect at January 31, 2009.

ACA — American Capital Access AGL — Assured Guaranty Ltd. AMBAC — AMBAC Indemnity Corp. AMT — Alternative Minimum Tax BHAC — Berkshire Hathaway Assurance Corp. CIFG — CDC IXIS Financial Guaranty FGIC — Financial Guaranty Insurance Co. FSA — Financial Security Assurance Inc. GNMA — Government National Mortgage Association LOC — Letter of Credit MBIA — Municipal Bond Investors Assurance Corp. Syncora Gtd — Syncora Guarantee Inc.

The Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (FAS 157), effective November 1, 2008. In accordance with FAS 157, fair value is defined as the price that the Trust would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. FAS 157 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs)

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and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Trust’s investments. The inputs are summarized in the three broad levels listed below.

•	Level 1 — quoted prices in active markets for identical investments
•	Level 2 — other significant observable inputs (including quoted prices for
similar investments, interest rates, prepayment speeds, credit risk, etc.)
•	Level 3 — significant unobservable inputs (including the Trust’s own assumptions
in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used as of January 31, 2009 in valuing the Trust’s investments carried at value:

	Investments in
Valuation Inputs	Securities
Level 1 - Quoted Prices	$-0-
Level 2 - Other Significant Observable Inputs	507,808,351
Level 3 - Significant Unobservable Inputs	-0-
Total	$507,808,351

Municipal bonds are valued by independent pricing services or dealers using the mean of the last reported bid and asked prices or, in the absence of market quotations, at fair value based upon yield data relating to municipal bonds with similar characteristics and general market conditions. Securities which are not valued by independent pricing services or dealers are valued at fair value using procedures established in good faith by the Board of Trustees. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer’s financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances. Futures contracts are valued at the settlement price established each day on the exchange on which they are traded. Short-term securities with remaining maturities of 60 days or less are valued at amortized cost, which approximates market value.

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TOC /TOC link2 "Item 2. Controls and Procedures"

Item 2. Controls and Procedures.

(a) The Trust’s principal executive officer and principal financial officer have concluded that the Trust’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Trust in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.

(b) There were no changes in the Trust’s internal control over financial reporting that occurred during the registrant’s fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.

link2 "Item 3. Exhibits"

Item 3. Exhibits.

(a) A certification for the Principal Executive Officer of the registrant is attached hereto as part of EX-99.cert.

(b) A certification for the Principal Financial Officer of the registrant is attached hereto as part of EX-99.cert.

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link1 "SIGNATURES"

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and 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) Van Kampen Pennsylvania Value Municipal Income Trust

By: /s/ Edward C. Wood III Name: Edward C. Wood III Title: Principal Executive Officer Date: March 19, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Edward C. Wood III Name: Edward C. Wood III Title: Principal Executive Officer Date: March 19, 2009

By: /s/ Stuart N. Schuldt Name: Stuart N. Schuldt Title: Principal Financial Officer Date: March 19, 2009

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