Invesco Trust for Investment Grade New York Municipals

Regulatory Filings • Jun 29, 2009

N-CSRS 1 c51547nvcsrs.htm N-CSRS N-CSRS PAGEBREAK

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSRS

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-6537

Van Kampen Trust For Investment Grade New York Municipals

(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: 4/30/09

Folio /Folio

PAGEBREAK

BEGIN PAGE WIDTH

END PAGE WIDTH

BEGIN PAGE WIDTH

Item 1. Report to Shareholders.

The Trust’s semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

Welcome, Shareholder

callerid=999 iwidth=351 length=918

In this report, you’ll learn about how your investment in Van Kampen Trust for Investment Grade New York Municipals performed during the semiannual period. The portfolio management team will provide an overview of the market conditions and discuss some of the factors that affected investment performance during the reporting period. In addition, this report includes the trust’s financial statements and a list of trust investments as of April 30, 2009.

Market forecasts provided in this report may not necessarily come to pass. There is no assurance that the trust will achieve its investment objective. Trusts are subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of the trust shares may therefore be less than what you paid for them. Accordingly, you can lose money investing in this trust.

Income may subject certain individuals to the federal Alternative Minimum Tax (AMT).

NOT FDIC INSURED	MAY LOSE VALUE
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY	NOT A DEPOSIT

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

link1 "Performance Summary" Performance Summary as of 4/30/09

| Trust
for Investment Grade New York Municipals | | |
| --- | --- | --- |
| Symbol:
VTN | | |
| Average Annual | Based on | Based on |
| Total
Returns | NAV | Market
Price |
| Since Inception (3/27/92) | 5.82 % | 5.34 % |
| 10-year | 3.76 | 3.29 |
| 5-year | 0.89 | 0.83 |
| 1-year | –9.93 | –13.46 |
| 6-month | 15.34 | 12.63 |

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit vankampen.com or speak with your financial adviser. Investment returns, net asset value (NAV) and common share market price will fluctuate and trust shares, when sold, may be worth more or less than their original cost.

NAV per share is determined by dividing the value of the trust’s portfolio securities, cash and other assets, less all liabilities and preferred shares, by the total number of common shares outstanding. The common share market price is the price the market is willing to pay for shares of the trust at a given time. Common share market price is influenced by a range of factors, including supply and demand and market conditions. Total return assumes an investment at the beginning of the period, reinvestment of all distributions for the period in accordance with the trust’s dividend reinvestment plan, and sale of all shares at the end of the period. The trust’s adviser has waived or reimbursed fees and expenses from time to time, absent such waivers/reimbursements the trust’s returns would have been lower. Periods of less than one year are not annualized.

The Lehman Brothers New York Municipal Bond Index, which has been shown in the Trust’s previous shareholder reports changed its name to Barclays Capital New York Municipal Bond Index as of November 3, 2008. The Barclays Capital New York Municipal Bond Index tracks the performance of New York issued municipal bonds rated at least Baa of BBB by Moody’s or S&P, respectively, and with maturities of 2 years or greater. The Index is unmanaged and its returns do not include any sales charges or fees. Such costs would lower performance. It is not possible to invest directly in an index.

1

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

link1 "Trust Report" Trust Report

For the six-month period ended April 30, 2009

Market Conditions

The six months under review can be divided into two distinct periods in terms of municipal market performance. The first of these, spanning the last two months of 2008, marked one of the worst periods in the history of the financial markets as the sell off that began in September continued through year end. Investors fled risky assets in favor of the relative safety of Treasury securities and money market funds, massive deleveraging and forced selling ensued, and tax-exempt bond funds experienced significant outflows. These factors pushed municipal bond prices to their cheapest levels in history relative to Treasury bonds.

Not surprisingly in this risk-averse environment, the lower-rated segment of the market underperformed, with high-yield municipal bonds (those rated below triple-B or non-rated issues) returning -12.91 percent for the last two months of 2008 (as measured by the Barclays Capital High Yield Municipal Bond Index) while triple-B rated issues returned -7.33 percent and triple-A rated issues returned 3.46 percent (as measured within the Barclays Capital Municipal Bond Index).

The first four months of 2009 were markedly better for municipal bond investors. Credit concerns eased, deleveraging slowed considerably, and investors re-entered the market, driving municipal bond prices higher. Yields declined by as much as 95 basis points on the front end of the municipal yield curve during the period, while yields on long-maturity issues fell roughly 50 basis points. The rally was accompanied by a narrowing of credit spreads, which helped the high-yield segment of the market to outperform. As a result, high-yield municipals returned 10.00 percent, triple-B rated issues returned 11.11 percent and triple-A rated issues returned 4.83 percent for the first four months of 2009.

Although the high-yield segment rebounded nicely in 2009 to date, the gains were not enough to offset the losses in the last two months of 2008. As a result, higher-quality issues outperformed for the overall six-month reporting period. With regard to sectors, performance was largely dependent on credit quality, with the lower-quality industrial development revenue/pollution control revenue (i.e. corporate-backed) and tobacco sectors turning in the worst performance while water and sewer and housing bonds posted the highest returns.

For the first four months of 2009, municipal bond issuance was down 13 percent versus the same period in 2008 yet was easily placed due to robust retail demand. With the continued deterioration of credit quality of municipal bond issuers, insured bond volume represented a mere 12 percent of total issuance, a dramatic decline from the 55 percent average over the past few years. This large increase in uninsured bonds has disrupted many historical measures of value in the municipal market. In a significant reversal from the last months of 2008,

2

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

municipal bond funds saw approximately $17 billion in net inflows as investors recognized the historical cheapness of the municipal sector.

The state of New York benefits from its broad-based and wealthy economy and has seen an improvement in its finances and budgetary reserves over the past few years. However, the economic slowdown and concerns on Wall Street, as well as the volatility in the financial markets will pose challenges for the state over the next year. We continue to monitor the state’s fiscal position during the financial crisis and will look for opportunities to invest in more stable sectors.

Performance Analysis

The Trust’s return can be calculated based upon either the market price or the net asset value (NAV) of its shares. NAV per share is determined by dividing the value of the Trust’s portfolio securities, cash and other assets, less all liabilities and preferred shares, by the total number of common shares outstanding, while market price reflects the supply and demand for the shares. As a result, the two returns can differ, as they did during the reporting period. On both an NAV basis and a market price basis, the Trust outperformed the Barclays Capital New York Municipal Bond Index (the “Index”).

Total return for the six-month period ended April 30, 2009

| Based on | Based on | Barclays Capital
New York |
| --- | --- | --- |
| NAV | Market
Price | Municipal
Bond Index |
| 15.34 % | 12.63 % | 7.74 % |

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. Investment return, net asset value and common share market price will fluctuate and Trust shares, when sold, may be worth more or less than their original cost. See Performance Summary for additional performance information and index definition.

The primary contributors to the Trust’s performance during the reporting period included holdings in the water and sewer, transportation, and local general obligation sectors, which were held in the form of inverse floating-rate securities.* The Trust’s holdings in life care bonds, coupled with an overweight to the sector relative to the Index, were additive to returns. A significant overweight in higher education, coupled with strong security selection in the sector, was also beneficial.

Other positions, however, detracted from relative performance. The Trust maintained a considerable underweight in lower coupon dedicated tax bonds, which was disadvantageous as these issues outperformed the broad municipal bond market during the period. An underweight exposure to the short and intermediate portions of the municipal yield curve detracted from returns.

*An inverse floating-rate security, or “inverse floater”, is a variable rate security whose coupon rate changes in the opposite direction from the change in the reference rate used to calculate the coupon rate.

3

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

However, this was offset by gains realized on the portfolio’s longer-maturity holdings. Lastly, although the portfolio maintained a neutral weighting relative to the Index in the industrial development revenue/pollution control revenue (IDR/PCR) sector, unfavorable security selection and a shorter duration (a measure of interest-rate sensitivity) in the sector hampered performance.

The Trust’s Board of Trustees has approved a procedure whereby the Trust may, when appropriate, repurchase its shares in the open market or in privately negotiated transactions at a price not above market value or NAV, whichever is lower at the time of purchase. This may help support the market value of the Trust’s shares.

There is no guarantee that any sectors mentioned will continue to perform as discussed herein or that securities in such sectors will be held by the Trust in the future.

4

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

| Ratings
Allocations as of 4/30/09 (Unaudited) | |
| --- | --- |
| AAA/Aaa | 11.7 % |
| AA/Aa | 54.0 |
| A/A | 12.5 |
| BBB/Baa | 11.4 |
| BB/Ba | 3.1 |
| B/B | 0.7 |
| Non-Rated | 6.6 |
| Top
Five Sectors as of 4/30/09 (Unaudited) | |
| Public Transportation | 17.7 % |
| Hospital | 13.4 |
| General Purpose | 10.7 |
| Water & Sewer | 9.9 |
| Student Housing | 7.6 |

Subject to change daily. Provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned or securities in the sectors shown above. Ratings are as a percentage of total investments. Sectors are as a percentage of total long-term investments. Securities are classified by sectors that represent broad groupings of related industries. Van Kampen is a wholly owned subsidiary of a global securities firm which is engaged in a wide range of financial services including, for example, securities trading and brokerage activities, investment banking, research and analysis, financing and financial advisory services. Rating allocations based upon ratings as issued by Standard and Poor’s and Moody’s, respectively.

5

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Portfolio Management

Van Kampen Trust for Investment Grade New York Municipals is managed by members of the Adviser’s Municipal Fixed Income team. The Municipal Fixed Income team consists of portfolio managers and analysts. The current members of the team jointly and primarily responsible for the day-to-day management of the Trust’s portfolio are William D. Black, an Executive Director of the Adviser, Mark Paris, an Executive Director of the Adviser, Robert J. Stryker, a Vice President of the Adviser, and Robert W. Wimmel, an Executive Director of the Adviser.

Mr. Black has been associated with the Adviser in an investment management capacity since 1998 and began managing the Trust in December 2007. Mr. Paris has been associated with the Adviser in an investment management capacity since 2002 and began managing the Trust in December 2007. Mr. Stryker has been associated with the Adviser in an investment management capacity since 1994 and began managing the Trust in December 2007. Mr. Wimmel has been associated with the Adviser in an investment management capacity since 1996 and began managing the Trust in January 2002. All team members are responsible for the execution of the overall strategy of the Trust’s portfolio. The composition of the team may change from time to time.

For More Information About Portfolio Holdings

Each Van Kampen trust provides a complete schedule of portfolio holdings in its semiannual and annual reports within 60 days of the end of the trust’s second and fourth fiscal quarters. The semiannual reports and the annual reports are filed electronically with the Securities and Exchange Commission (SEC) on Form N-CSRS and Form N-CSR, respectively. Van Kampen also delivers the semiannual and annual reports to fund shareholders, and makes these reports available on its public Web site, www.vankampen.com. In addition to the semiannual and annual reports that Van Kampen delivers to shareholders and makes available through the Van Kampen public Web site, each fund files a complete schedule of portfolio holdings with the SEC for the trust’s first and third fiscal quarters on Form N-Q. Van Kampen does not deliver the reports for the first and third fiscal quarters to shareholders, nor are the reports posted to the Van Kampen public Web site. You may, however, obtain the Form N-Q filings (as well as the Form N-CSR and N-CSRS filings) by accessing the SEC’s Web site, http://www.sec.gov. You may also review and copy them at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the SEC’s Public Reference Room may be obtained by calling the SEC at (800) SEC-0330. You can also request copies of these materials, upon payment of a duplicating fee, by electronic request at the SEC’s e-mail address (publicinfo@sec.gov) or by writing the Public Reference section of the SEC, Washington, DC 20549-0102.

You may obtain copies of a trust’s fiscal quarter filings by contacting Van Kampen Client Relations at (800) 341-2929.

6

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Proxy Voting Policy and Procedures and Proxy Voting Record

You may obtain a copy of the Trust’s Proxy Voting Policy and Procedures without charge, upon request, by calling toll free (800) 341-2929 or by visiting our Web site at www.vankampen.com. It is also available on the Securities and Exchange Commission’s Web site at http://www.sec.gov.

You may obtain information regarding how the Trust voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 without charge by visiting our Web site at www.vankampen.com. This information is also available on the Securities and Exchange Commission’s Web site at http://www.sec.gov.

7

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals

Portfolio of Investments n April 30, 2009 (Unaudited)

Par
Amount
(000)	Description	Coupon	Maturity	Value
	Municipal Bonds 187.9% New York 183.9%
$ 1,750	Albany, NY Indl Dev Agy Civic Fac Rev Saint Peters Hosp Proj,
Ser A	5.250 %	11/15/32	$ 1,349,372
1,000	Albany, NY Indl Dev Agy Civic Fac Rev Saint Peters Hosp Proj,
Ser D	5.750	11/15/27	876,890
1,000	Amherst, NY Indl Dev Agy Civic Fac Rev UBF Fac Student Hsg,
Ser A (AMBAC Insd)	5.750	08/01/25	1,015,610
1,000	Amherst, NY Indl Dev Agy Civic Fac Rev UBF Fac Student Hsg,
Ser B (AMBAC Insd)	5.750	08/01/30	1,011,110
1,000	Broome Cnty, NY Indl Dev Agy Continuing Care Retirement Good
Shepard Vlg, Ser A	6.750	07/01/28	772,540
1,300	Broome Cnty, NY Indl Dev Agy Continuing Care Retirement Good
Shepard Vlg, Ser A	6.875	07/01/40	938,054
990	Dutchess Cnty, NY Indl Dev Agy Civic Fac Rev Elant Fishkill Inc,
Ser A	5.250	01/01/37	551,776
2,400	East Rochester, NY Hsg Auth Rev Sr Living Woodland Vlg
Proj Rfdg	5.500	08/01/33	1,504,080
1,000	Erie Cnty, NY Pub Impt, Ser C (AMBAC Insd) (Prerefunded @
7/01/10)	5.500	07/01/29	1,068,350
1,000	Essex Cnty, NY Indl Dev Agy Rev Intl Paper Rfdg,
Ser A (AMT)	5.200	12/01/23	713,330
1,500	Hempstead Town, NY Indl Dev Agy Civic Fac Rev Adelphi Univ
Civic Fac	5.000	10/01/30	1,444,575
2,000	Hempstead Town, NY Indl Dev Agy Civic Fac Rev Adelphi Univ
Civic Fac	5.500	06/01/32	2,008,320
2,000	Islip, NY Res Recovery Agy Rev 1985 Fac, Ser B (AMBAC Insd)
(AMT)	7.250	07/01/11	2,134,740
1,860	Long Island Pwr Auth NY Elec Sys Rev, Ser A	6.250	04/01/33	2,048,102
1,500	Long Island Pwr Auth NY Elec Sys Rev Gen, Ser B	5.000	12/01/35	1,432,050
1,975	Long Island Pwr Auth NY Elec Sys Rev Gen, Ser E	5.000	12/01/17	2,088,503
1,315	Long Island Pwr Auth NY Elec Sys Rev, Ser A
(AMBAC Insd)	5.000	09/01/34	1,258,481
2,370	Madison Cnty, NY Indl Dev Agy Civic Fac Rev Colgate Univ Proj,
Ser A (AMBAC Insd)	5.000	07/01/35	2,342,555
750	Madison Cnty, NY Indl Dev Agy Civic Fac Rev Oneida Hlth Sys Inc
Proj, Ser A	5.500	02/01/32	575,340
1,000	Madison Cnty, NY Indl Dev Agy Morrisville St College Fndtn,
Ser A (CIFG Insd)	5.000	06/01/28	823,950
4,000	Metropolitan Trans Auth NY Rev Rfdg, Ser A (AMBAC Insd)	5.500	11/15/19	4,153,800
10,000	Metropolitan Trans Auth NY Rev, Ser B
(BHAC Insd) (a)	5.000	11/15/31	10,195,200
4,000	Metropolitan Trans Auth NY Svc Contract Rfdg, Ser A	5.125	01/01/29	3,972,760

8

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Portfolio of Investments n April 30, 2009 (Unaudited) continued

Par
Amount
(000)	Description	Coupon	Maturity	Value
	New York (Continued)
$ 1,500	Montgomery Cnty, NY Indl Dev Agy Lease Rev HFM Boces, Ser A
(Syncora Gtd)	5.000 %	07/01/34	$ 1,222,905
8,000	Nassau Cnty, NY Indl Dev Agy Continuing Care Retirement
Amsterdam at Harborside, Ser A	6.700	01/01/43	5,967,680
7,300	New York City Indl Dev Agy Civic Fac Rev Polytechnic Univ Proj
(ACA Insd)	5.250	11/01/37	5,568,367
3,250	New York City Indl Dev Agy Rev Liberty 7 World Trade Ctr Proj,
Ser B	6.750	03/01/15	2,821,195
3,375	New York City Indl Dev Agy Rev Liberty Iac/Interactive Corp.	5.000	09/01/35	2,080,991
2,000	New York City Indl Dev Agy Rev Queens Baseball Stadium Pilot
(AGL Insd)	6.500	01/01/46	2,199,440
2,000	New York City Indl Dev Agy Rev Queens Baseball Stadium Pilot
(AMBAC Insd)	5.000	01/01/36	1,637,280
3,000	New York City Indl Dev Agy Spl Fac Rev Amern Air JFK Intl Arpt
(AMT)	7.500	08/01/16	2,484,780
3,155	New York City Indl Dev Agy Spl Fac Rev NY Stock Exchange Proj,
Ser A	5.400	05/01/18	3,164,654
2,000	New York City Indl Dev Agy Spl Fac Rev NY Stock Exchange Proj,
Ser A	5.625	05/01/29	2,001,500
3,710	New York City Indl Dev Agy Spl Fac Rev Term One Group Assn
Proj (AMT) (b)	5.500	01/01/19	3,476,715
3,000	New York City Indl Dev Agy Spl Fac Rev Term One Group Assn
Proj (AMT) (b)	5.500	01/01/20	2,780,130
5,750	New York City Indl Dev Agy Spl Fac Rev Term One Group Assn
Proj (AMT) (b)	5.500	01/01/21	5,275,338
1,450	New York City Indl Dev Civic Fac Rev YMCA Gtr NY Proj	5.800	08/01/16	1,452,407
1,500	New York City Muni Wtr Fin Auth Wtr & Swr Rev, Ser FF-2	5.500	06/15/40	1,581,495
2,000	New York City Muni Wtr Fin Auth Wtr & Swr Sys Rev,
Ser B (FSA Insd)	5.000	06/15/29	2,005,740
2,250	New York City Muni Wtr Fin Auth Wtr & Swr Sys Rev,
Ser C	5.000	06/15/31	2,273,512
10,000	New York City Muni Wtr Fin Auth Wtr & Swr Sys Rev,
Ser C (a)	5.000	06/15/31	10,104,600
12,000	New York City Muni Wtr Fin Auth Wtr & Swr Sys Rev,
Ser D (a)	5.000	06/15/37	12,043,200
2,650	New York City Muni Wtr Fin, Ser B	6.000	06/15/33	2,814,061
3,300	New York City, Ser F1	5.500	11/15/28	3,434,079
2,000	New York City, Ser G	5.000	12/01/25	2,017,560
1,300	New York City, Ser G	5.000	12/01/26	1,308,125
10	New York City, Ser K (Prerefunded @ 8/01/09)	5.625	08/01/13	10,233
10,000	New York City, Subser I-1 (a)	5.000	02/01/26	10,091,000
10,000	New York City, Subser L-1 (a)	5.000	04/01/27	10,049,600

9

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Portfolio of Investments n April 30, 2009 (Unaudited) continued

Par
Amount
(000)	Description	Coupon	Maturity	Value
	New York (Continued)
$ 10,890	New York City Transitional Cultural Res Rev Amern Museum Nat
History Rfdg, Ser A (NATL Insd)	5.000 %	07/01/44	$ 10,539,233
2,950	New York City Transitional Fin Auth Bldg Aid Rev Fiscal 2009, Ser S-1	5.500	07/15/38	2,987,996
1,000	New York City Transitional Fin Auth Bldg Aid Rev Fiscal 2009, Ser S-3	5.250	01/15/39	983,660
1,000	New York St Dorm Auth Lease Rev Master Boces Pgm, Ser A
(FSA Insd)	5.250	08/15/17	1,062,520
5,200	New York St Dorm Auth Rev Catholic Hlth L.I. Oblig Group	5.000	07/01/27	4,072,172
2,750	New York St Dorm Auth Rev Catholic Hlth L.I. Oblig Group	5.100	07/01/34	2,010,085
3,500	New York St Dorm Auth Rev City Univ Cons Third, Ser 1 (FGIC
Insd)	5.250	07/01/25	3,509,170
3,125	New York St Dorm Auth Rev City Univ Sys Cons, Ser A	5.625	07/01/16	3,435,344
2,500	New York St Dorm Auth Rev Cons City Univ Sys Second Gen,
Ser A	5.750	07/01/13	2,684,000
1,670	New York St Dorm Auth Rev Dept Ed	5.250	07/01/19	1,790,290
2,500	New York St Dorm Auth Rev Dept Hlth, Ser A (CIFG Insd)	5.000	07/01/25	2,528,925
2,200	New York St Dorm Auth Rev Grace Manor Hlthcare Fac
(SONYMA Insd)	6.150	07/01/18	2,202,464
3,800	New York St Dorm Auth Rev Hosp (NATL Insd)	5.000	08/01/33	3,727,458
2,340	New York St Dorm Auth Rev Insd Brooklyn Law Sch, Ser B
(Syncora Gtd)	5.375	07/01/23	2,363,728
1,000	New York St Dorm Auth Rev Insd John T Mather Mem Hosp Rfdg
(Connie Lee Insd)	6.500	07/01/10	1,036,360
1,720	New York St Dorm Auth Rev Insd John T Mather Mem Hosp Rfdg
(Connie Lee Insd)	6.500	07/01/11	1,808,391
3,750	New York St Dorm Auth Rev Mem Sloan Kettering Cancer Center
(NATL Insd)	5.500	07/01/23	4,149,900
2,000	New York St Dorm Auth Rev Non Sch Dist Fin Prog, Ser B (FSA
Insd)	5.000	04/01/36	1,994,040
2,000	New York St Dorm Auth Rev Non St Supported Debt Insd Providence
Rest (ACA Insd)	5.000	07/01/35	1,104,300
2,525	New York St Dorm Auth Rev Non St Supported Debt Insd Providence
Rest (ACA Insd)	5.125	07/01/30	1,519,394
4,000	New York St Dorm Auth Rev Non St Supported Debt L.I. Jewish,
Ser A	5.000	11/01/26	3,768,480
4,000	New York St Dorm Auth Rev Non St Supported Debt L.I. Jewish,
Ser A	5.000	11/01/34	3,499,800
1,455	New York St Dorm Auth Rev Non St Supported Debt Mental Hlth Svc,
Ser B (NATL Insd)	5.250	08/15/31	1,456,746

10

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Portfolio of Investments n April 30, 2009 (Unaudited) continued

Par
Amount
(000)	Description	Coupon	Maturity	Value
	New York (Continued)
$ 2,870	New York St Dorm Auth Rev Non St Supported Debt NY University,
Ser C	5.000 %	07/01/38	$ 2,852,350
5,000	New York St Dorm Auth Rev Non St Supported Debt NYU Hosp Ctr,
Ser A	5.000	07/01/36	3,359,100
3,000	New York St Dorm Auth Rev Non St Supported Debt Orange Reg
Med Ctr	6.500	12/01/21	2,613,510
1,000	New York St Dorm Auth Rev Non St Supported Debt Orange Regl
Med Ctr	6.125	12/01/29	761,010
2,000	New York St Dorm Auth Rev Non St Supported Debt Sch Dist Fin
Prog, Ser D	5.750	10/01/24	2,186,920
3,000	New York St Dorm Auth Rev Sec Hosp North Gen Hosp Rfdg	5.750	02/15/18	3,166,170
2,205	New York St Dorm Auth Rev St Supported Debt Lease St Univ Dorm
Fac, Ser A	5.000	07/01/25	2,206,455
2,000	New York St Dorm Auth Rev St Supported Debt Mental Hlth Svc Fac
Impt, Ser A (FSA Insd)	5.000	02/15/27	2,036,020
2,000	New York St Dorm Auth Rev St Supported Debt Mental Hlth Svc,
Ser C (FSA Insd) (AMT)	5.250	02/15/28	1,916,860
1,000	New York St Dorm Auth Rev St Univ Ed Fac 1989 Res (NATL Insd)
(Prerefunded @ 5/15/10)	6.000	05/15/15	1,067,240
3,600	New York St Dorm Auth Rev St Univ Ed Fac, Ser A (NATL Insd)	5.250	05/15/15	3,953,916
5,010	New York St Dorm Auth Rev St Univ Ed Fac, Ser B	5.250	05/15/19	5,496,671
300	New York St Environmental Fac Corp Pollutn Ctl Rev St Wtr
Revolving Fd, Ser A (POL CTL-SRF Insd) (c)	5.750	06/15/12	342,087
500	New York St Environmental Fac Corp Pollutn Ctl Rev St Wtr,
Ser 02 (POL CTL-SRF Insd) (c)	5.750	06/15/12	568,820
95	New York St Environmental Fac Corp Pollutn Ctl Rev St Wtr,
Ser 02 (POL CTL-SRF Insd)	5.750	06/15/12	106,644
1,000	New York St Environmental Fac Corp St Clean Wtr &
Drinking Revolving Fd Muni Wtr Proj, Ser B	5.250	06/15/20	1,048,280
1,500	New York St Environmental Fac Corp St Clean Wtr &
Drinking, Ser A	5.125	06/15/38	1,521,810
3,250	New York St Hsg Fin Agy Rev Affordable Hsg, Ser B (AMT)	5.250	11/01/27	3,127,215
2,500	New York St Hsg Fin Agy Rev Affordable Hsg, Ser B (AMT)	5.300	11/01/37	2,407,575
1,555	New York St Mtg Agy Rev Homeowner Mtg, Ser 145 (AMT)	5.050	10/01/29	1,457,035
855	New York St Mtg Agy Rev Homeowner Mtg, Ser 71 (AMT)	5.400	04/01/29	837,601
2,500	New York St Twy Auth Gen Rev, Ser H (NATL Insd)	5.000	01/01/29	2,517,325

11

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Portfolio of Investments n April 30, 2009 (Unaudited) continued

Par
Amount
(000)	Description	Coupon	Maturity	Value
	New York (Continued)
$ 2,000	New York St Twy Auth Second Gen Hwy & Brdg Tr Fd,
Ser B	5.000 %	04/01/27	$ 2,031,460
1,625	New York St Urban Dev Corp Rev Correctional Fac Rfdg	5.500	01/01/13	1,708,623
4,650	New York St Urban Dev Corp Rev Correctional Fac Rfdg, Ser A	5.500	01/01/14	4,928,675
2,000	New York St Urban Dev Corp Rev Svc Contract Rfdg, Ser B	5.250	01/01/25	2,043,660
3,570	Niagara Falls, NY Frontier Auth Trans Arpt Rev Buffalo Niagara
Intl Arpt, Ser A (NATL Insd) (AMT)	5.625	04/01/29	3,219,926
1,060	Niagara Falls, NY Wtr Treatment Plant (NATL Insd) (AMT)	7.250	11/01/10	1,161,612
35,000	Port Auth NY & NJ Cons 144th (a)	5.000	10/01/35	35,214,200
2,000	Port Auth NY & NJ Spl Oblig Rev Spl Proj JFK Intl Arpt
Term 6 (NATL Insd) (AMT)	5.750	12/01/22	1,668,160
2,500	Port Auth NY & NJ Spl Oblig Rev Spl Proj JFK Intl Arpt
Term 6 (NATL Insd) (AMT)	5.750	12/01/25	2,000,775
10,000	Porth Auth NY & NJ Cons 152nd (AMT) (a)	5.000	11/01/25	9,791,200
1,000	Rockland Cnty, NY Solid Waste Mgmt Auth, Ser B (AMBAC
Insd) (AMT)	5.125	12/15/28	899,800
1,000	Saratoga Cnty, NY Indl Dev Agy Civic Fac Rev Saratoga Hosp Proj,
Ser B	5.125	12/01/27	833,930
650	Saratoga Cnty, NY Indl Dev Agy Civic Fac Rev Saratoga Hosp Proj,
Ser B	5.250	12/01/32	521,430
1,000	Saratoga Cnty, NY Wtr Auth Wtr Syst	5.000	09/01/33	1,003,630
1,250	Sodus, NY Ctr Sch Dist Rfdg (NATL Insd)	5.125	06/15/17	1,354,525
2,170	Suffolk Cnty, NY Indl Dev Agy Civic Fac Rev Eastrn Long Island
Hosp Assn (d)	5.375	01/01/27	1,431,267
1,815	Triborough Brdg & Tunl Auth NY Rev Gen Purp, Ser A	5.000	01/01/32	1,817,577
1,600	Triborough Brdg & Tunl Auth NY Rev Gen Purp, Ser B	5.125	11/15/29	1,612,048
5,000	Tsasc, Inc NY, Ser 1	5.000	06/01/34	3,245,700
13,250	Tsasc, Inc NY, Ser 1	5.125	06/01/42	8,448,863
1,360	Warren & Washington Cnty, NY Indl Dev Agy Civic
Fac Rev
	Glens Falls Hosp Proj, Ser A (FSA Insd)	5.000	12/01/35	1,203,314
5,000	Westchester Cnty, NY Indl Dev Agy Continuing Care Retirement Mtg
Kendal on Hudson Proj, Ser A (Prerefunded @ 1/01/13)	6.500	01/01/34	5,833,600
7,000	Westchester Tob Asset Sec Corp NY	5.125	06/01/45	4,426,380
				350,331,500
	Puerto Rico 1.5%
1,000	Puerto Rico Elec Pwr Auth Rev, Ser TT	5.000	07/01/37	864,770
1,000	Puerto Rico Elec Pwr Auth Rev, Ser WW	5.000	07/01/28	911,320

12

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Portfolio of Investments n April 30, 2009 (Unaudited) continued

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	$ 1,008,510
75		Puerto Rico Pub Bldgs Auth Rev Govt Fac, Ser I (Comwth Gtd)
(Prerefunded @ 7/01/14)	5.250	07/01/33	85,155
					2,869,755
		U.S. Virgin Islands 2.5%
1,500		Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt,
Ser A	6.375	10/01/19	1,521,150
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	3,249,060
					4,770,210
Total Long-Term Investments 187.9% (Cost $380,077,820)					357,971,465
Total Short-Term Investments 0.3% (Cost $600,000)					600,000
Total Investments 188.2% (Cost $380,677,820)					358,571,465
Liability for Floating Rate Note Obligations Related to
Securities Held (31.3%) (Cost ($59,655,000))
(59,655	)	Notes with interest rates ranging from 0.53% to 0.71% at April
30, 2009 and contractual maturities of collateral ranging from
2025 to 2037 (See Note 1) (e)			(59,655,000	)
Total Net Investments 156.9% (Cost $321,022,820)					298,916,465
Other Assets in Excess of Liabilities 4.0%					7,629,379
Preferred Shares (including
accrued distributions) (60.9%)					(116,019,349	)
Net Assets Applicable to Common Shares 100.0%					$ 190,526,495

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. See Note 1. |
| --- | --- |
| (b) | Variable Rate Coupon |
| (c) | Escrowed to Maturity |

13

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Portfolio of Investments n April 30, 2009 (Unaudited) continued

| (d) | 144A-Private Placement security
which is exempt from registration under Rule 144A of the
Securities Act of 1933, as amended. This security may only be
resold in transactions exempt from registration which are
normally those transactions with qualified institutional buyers. |
| --- | --- |
| (e) | Floating Rate Notes. The interest
rates shown reflect the rates in effect at April 30, 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

Comwth—Commonwealth of Puerto Rico

Connie Lee—Connie Lee Insurance Co.

FGIC—Financial Guaranty Insurance Co.

FSA—Financial Security Assurance Inc.

NATL—National Public Finance Guarantee Corp.

POL CTL-SRF—State Water Pollution Control Revolving Fund

SONYMA—State of New York Mortgage Agency

Syncora Gtd—Syncora Guarantee Inc.

14

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals

Financial Statements

Statement of Assets and Liabilities

April 30, 2009 (Unaudited)

Assets: — Total Investments (Cost $380,677,820)	$ 358,571,465
Cash	39,136
Receivables:
Interest	6,455,439
Investments Sold	2,065,717
Other	707
Total Assets	367,132,464
Liabilities:
Payables:
Floating Rate Note Obligations	59,655,000
Investment Advisory Fee	122,684
Income Distributions—Common Shares	57,528
Other Affiliates	13,226
Trustees’ Deferred Compensation and Retirement Plans	632,688
Accrued Expenses	105,494
Total Liabilities	60,586,620
Preferred Shares (including accrued distributions)	116,019,349
Net Assets Applicable to Common Shares	$ 190,526,495
Net Asset Value Per Common Share ($190,526,495 divided by
15,146,457 shares outstanding)	$ 12.58
Net Assets Consist of:
Common Shares ($0.01 par value with an unlimited number of
shares authorized, 15,146,457 shares issued
and outstanding)	$ 151,465
Paid in Surplus	231,904,889
Accumulated Undistributed Net Investment Income	4,716,940
Net Unrealized Depreciation	(22,106,355	)
Accumulated Net Realized Loss	(24,140,444	)
Net Assets Applicable to Common Shares	$ 190,526,495
Preferred Shares ($0.01 par value, authorized
100,000,000 shares, 4,640 issued with liquidation
preference of $25,000 per share)	$ 116,000,000
Net Assets Including Preferred Shares	$ 306,526,495

15

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals

Financial Statements continued

Statement of Operations

For the Six Months Ended April 30, 2009 (Unaudited)

Investment Income: — Interest	$ 10,200,566
Expenses:
Investment Advisory Fee	879,606
Interest and Residual Trust Expenses	380,299
Preferred Share Maintenance	144,322
Professional Fees	51,301
Accounting and Administrative Expenses	37,719
Transfer Agent Fees	32,946
Reports to Shareholders	14,905
Custody	14,365
Registration Fees	9,955
Trustees’ Fees and Related Expenses	8,208
Depreciation in Trustee’s Deferred
Compensation Accounts	(145,495	)
Other	7,901
Total Expenses	1,436,032
Investment Advisory Fee Reduction	159,928
Less Credits Earned on Cash Balances	391
Net Expenses	1,275,713
Net Investment Income	$ 8,924,853
Realized and Unrealized Gain/Loss:
Net Realized Loss	$ (10,941,072	)
Unrealized Appreciation/Depreciation:
Beginning of the Period	(49,573,598	)
End of the Period	(22,106,355	)
Net Unrealized Appreciation During the Period	27,467,243
Net Realized and Unrealized Gain	$ 16,526,171
Distributions to Preferred Shareholders	$ (493,282	)
Net Increase in Net Assets Applicable to Common Shares
from Operations	$ 24,957,742

16

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals

Financial Statements continued

Statements of Changes in Net Assets (Unaudited)

| | For The — Six Months
Ended | Year Ended | | |
| --- | --- | --- | --- | --- |
| | April 30,
2009 | October 31,
2008 | | |
| From Investment Activities: | | | | |
| Operations: | | | | |
| Net Investment Income | $ 8,924,853 | $ | 18,398,393 | |
| Net Realized Loss | (10,941,072 | ) | (10,749,745 | ) |
| Net Unrealized Appreciation/Depreciation During the Period | 27,467,243 | | (59,413,632 | ) |
| Distributions to Preferred Shareholders: | | | | |
| Net Investment Income | (493,282 | ) | (4,368,393 | ) |
| Change in Net Assets Applicable to Common Shares from Operations | 24,957,742 | | (56,133,377 | ) |
| Distributions to Common Shareholders: | | | | |
| Net Investment Income | (6,181,108 | ) | (12,077,191 | ) |
| Net Change in Net Assets Applicable to Common Shares from
Investment Activities | 18,776,634 | | (68,210,568 | ) |
| From Capital Transactions: | | | | |
| Repurchase of Shares | (12,546 | ) | (3,727,592 | ) |
| Net Change in Net Assets Applicable to Common Shares | 18,764,088 | | (71,938,160 | ) |
| Net Assets Applicable to Common Shares: | | | | |
| Beginning of the Period | 171,762,407 | | 243,700,567 | |
| End of the Period (Including accumulated undistributed
net investment income of $4,716,940 and
$2,466,477, respectively) | $ 190,526,495 | $ | 171,762,407 | |

17

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals

Financial Statements continued

Statement of Cash Flows

For the Six Months Ended April 30, 2009 (Unaudited)

| Change in Net Assets from Operations (including Preferred
Share Distributions) | $ | |
| --- | --- | --- |
| Adjustments to Reconcile the Change in Net Assets from
Operations to | | |
| Net Cash Provided by Operating Activities: | | |
| Purchases of Investments | (62,618,463 | ) |
| Proceeds from Sales of Investments | 88,759,868 | |
| Net Sales of Short-Term Investments | 2,300,000 | |
| Amortization of Premium | 361,630 | |
| Accretion of Discount | (134,828 | ) |
| Net Realized Loss on Investments | 10,941,072 | |
| Net Change in Unrealized Depreciation on Investments | (27,467,243 | ) |
| Increase in Interest Receivables | (641,361 | ) |
| Decrease in Other Assets | 3,551 | |
| Increase in Receivable for Investments Sold | (1,962,267 | ) |
| Increase in Investment Advisory Fee | 849 | |
| Decrease in Accrued Expenses | (31,085 | ) |
| Decrease in Distributor and Affiliates Payable | (13,544 | ) |
| Decrease in Trustees’ Deferred Compensation and
Retirement Plans | (143,186 | ) |
| Decrease in Investments Purchased Payable | (611,800 | ) |
| Total Adjustments | 8,743,193 | |
| Net Cash Provided by Operating Activities | 33,700,935 | |
| Cash Flows From Financing Activities | | |
| Repurchased Shares | (12,546 | ) |
| Dividends Paid (net of reinvested dividends $0) | (6,215,991 | ) |
| Proceeds from and Repayments of Floating Rate
Note Obligations | (27,450,000 | ) |
| Net Cash Provided by Financing Activities | (33,678,537 | ) |
| Net Increase in Cash | 22,398 | |
| Cash at the Beginning of the Period | 16,738 | |
| Cash at the End of the Period | $ 39,136 | |
| Supplemental Disclosures of Cash Flow Information | | |
| Cash Paid During the Period for Interest | $ 380,299 | |

18

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals

Financial Highlights (Unaudited)

The following schedule presents financial highlights for one common share of the Trust outstanding throughout the periods indicated.

	Six Months
	Ended
	April 30,	Year Ended
October 31,
	2009	2008		2007		2006		2005		2004
Net Asset Value, Beginning of the Period	$ 11.34	$	15.80	$	16.96	$	16.81	$	17.23	$	17.37
Net Investment Income	0.59	(a)	1.21	(a)	1.10	(a)	1.05	(a)	1.07		1.12
Net Realized and Unrealized Gain/Loss	1.09		(4.59	)	(1.01	)	0.47		(0.29	)	0.31
Common Share Equivalent of Distributions Paid to
Preferred Shareholders:
Net Investment Income	(0.03	)	(0.29	)	(0.32	)	(0.26	)	(0.21	)	(0.09	)
Net Realized Gain	-0-		-0-		(0.04	)	(0.06	)	0.00	(f)	(0.02	)
Total from Investment Operations	1.65		(3.67	)	(0.27	)	1.20		0.57		1.32
Distributions Paid to Common Shareholders:
Net Investment Income	(0.41	)	(0.79	)	(0.78	)	(0.80	)	(0.94	)	(1.06	)
Net Realized Gain	-0-		-0-		(0.11	)	(0.25	)	(0.05	)	(0.40	)
Net Asset Value, End of the Period	$ 12.58	$	11.34	$	15.80	$	16.96	$	16.81	$	17.23
Common Share Market Price at End of the Period	$ 11.70	$	10.80	$	14.91	$	15.12	$	15.57	$	15.70
Total
Return * (b)	12.63%	**	–23.21%		4.38%		4.13%		5.65%		3.24%
Net Assets Applicable to Common Shares at End of the Period
(In millions)	$ 190.5	$	171.8	$	243.7	$	262.6	$	260.3	$	107.0
Ratio of Expenses to Average Net Assets Applicable to Common
Shares * (c)	1.45%		2.24%		2.06%		1.33%		1.40%		1.37%
Ratio of Net Investment Income to Average Net Assets Applicable
to Common
Shares * (c)	10.14%		8.19%		6.71%		6.29%		6.24%		6.56%
Portfolio Turnover	18%	**	43%		19%		39%		41%		10%
* If
certain expenses had not been voluntarily assumed by
Van Kampen, total return would have been lower and the
ratios would have been as follows:
Ratio of
Expenses to Average Net Assets Applicable to
Common Shares (c)	1.63%		2.41%		2.21%		N/A		N/A		N/A
Ratio of Net
Investment Income to Average Net Assets Applicable to
Common Shares (c)	9.96%		8.03%		6.56%		N/A		N/A		N/A
Supplemental Ratios:
Ratio of Expenses (Excluding Interest and Residual
Trust Expenses) to Average Net Assets Applicable to
Common Shares (c)	1.02%		0.97%		1.04%		1.25%		1.40%		1.37%
Ratio of Expenses (Excluding Interest and Residual
Trust Expenses) to Average Net Assets Including
Preferred Shares (c)	0.62%		0.60%		0.66%		0.80%		0.89%		0.87%
Ratio of Net Investment Income to Average Net Assets Applicable
to Common Shares (d)	9.58%		6.25%		4.78%		4.72%		5.01%		6.04%
Senior Securities:
Total Preferred Shares Outstanding	4,640		4,640		5,800		5,800		5,800		2,400
Asset Coverage Per Preferred Share (e)	$ 66,066	$	62,029	$	67,031	$	70,290	$	69,885	$	69,600
Involuntary Liquidating Preference Per Preferred Share	$ 25,000	$	25,000	$	25,000	$	25,000	$	25,000	$	25,000
Average Market Value Per Preferred Share	$ 25,000	$	25,000	$	25,000	$	25,000	$	25,000	$	25,000

(a)	Based on average shares outstanding.
(b)	Total return assumes an investment
at the common share market price at the beginning of the period
indicated, reinvestment of all distributions for the period in
accordance with the Trust’s dividend reinvestment plan, and
sale of all shares at the closing common share market price at
the end of the period indicated.
(c)	Ratios do not reflect the effect of
dividend payments to preferred shareholders.
(d)	Ratios reflect the effect of
dividend payments to preferred shareholders..
(e)	Calculated by subtracting the
Trust’s total liabilities (not including the preferred
shares) from the Trust’s total assets and dividing this by
the number of preferred shares outstanding.
(f)	Amount is less than $0.01 per share.

** Non-Annualized

N/A = Not Applicable

19

See Notes to Financial Statements

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals

Notes to Financial Statements n April 30, 2009 (Unaudited)

1. Significant Accounting Policies

Van Kampen Trust for Investment Grade New York Municipals (the “Trust”) is registered as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Trust’s investment objective is to seek to provide a high level of current income exempt from federal as well as New York State and New York City income taxes, consistent with preservation of capital. The Trust will invest substantially all of its assets in New York municipal securities rated investment grade at the time of investment but may invest up to 20% of its assets in unrated securities which are believed to be of comparable quality to those rated investment grade. The Trust commenced investment operations on March 27, 1992.

The following is a summary of significant accounting policies consistently followed by the Trust in the preparation of its financial statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

A. Security Valuation 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.

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) 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

20

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Notes to Financial Statements n April 30, 2009 (Unaudited) continued

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 April 30, 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	358,571,465
Level 3—Significant Unobservable Inputs	-0-
Total	$ 358,571,465

B. Security Transactions Security transactions are recorded on a trade date basis. Realized gains and losses are determined on an identified cost basis. The Trust may purchase and sell securities on a “when-issued” or “delayed delivery” basis with settlement to occur at a later date. The value of the security so purchased is subject to market fluctuations during this period. The Trust will segregate assets with the custodian having an aggregate value at least equal to the amount of the when-issued or delayed delivery purchase commitments until payment is made. At April 30, 2009, the Trust had no when-issued or delayed delivery purchase commitments.

C. Investment Income Interest income is recorded on an accrual basis. Bond premium is amortized and discount is accreted over the expected life of each applicable security.

D. Federal Income Taxes It is the Trust’s policy to comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable income to its shareholders. Therefore, no provision for federal income taxes is required. Financial Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes , sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has concluded there are no significant uncertain tax positions that would require recognition in the financial statements. If applicable, the Trust recognizes interest accrued related to unrecognized tax benefits in “Interest Expense” and penalties in “Other” expenses on the Statement of Operations. The Trust files tax returns with the U.S. Internal Revenue Service, New York, and various states. Generally, each of the tax years in the four year period ended October 31, 2008, remains subject to examination by taxing authorities.

21

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Notes to Financial Statements n April 30, 2009 (Unaudited) continued

The Trust intends to utilize provisions of the federal income tax laws which allow it to carry a realized capital loss forward for eight years following the year of the loss and offset these losses against any future realized capital gains. At October 31, 2008, the Trust had an accumulated capital loss carryforward for tax purposes of $12,591,711, which will expire according to the following schedule.

Amount
$ 2,899,423	October 31, 2015
9,692,288	October 31, 2016

At April 30, 2009, the cost and related gross unrealized appreciation and depreciation were as follows:

Cost of investments for tax purposes	$
Gross tax unrealized appreciation	$ 10,333,168
Gross tax unrealized depreciation	(25,596,051	)
Net tax unrealized depreciation on investments	$ (15,262,883	)

E. Distribution of Income and Gains The Trust declares and pays monthly dividends from net investment income to common shareholders. Net realized gains, if any, are distributed at least annually on a pro rata basis to common and preferred shareholders. Distributions from net realized gains for book purposes may include short-term capital gains and a portion of futures gains, which are included as ordinary income for tax purposes.

The tax character of distributions paid during the year ended October 31, 2008 was as follows:

Distributions paid from:
Ordinary income	$ 885
Tax exempt income	16,474,253
	$ 16,475,138

As of October 31, 2008, the components of distributable earnings on a tax basis were as follows:

Undistributed tax-exempt income $ 2,748,966

Net realized gains or losses may differ for financial reporting and tax purposes primarily as a result of gains or losses recognized on securities for tax purposes but not for book purposes.

F. Credits Earned on Cash Balances During the six months ended April 30, 2009, the Trust’s custody fee was reduced by $391 as a result of credits earned on cash balances.

G. Floating Rate Note Obligations Related to Securities Held The Trust enters into transactions in which it transfers to dealer trusts fixed rate bonds in exchange for cash and residual interests in the dealer trusts’ assets and cash flows, which are in the form of inverse floating

22

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Notes to Financial Statements n April 30, 2009 (Unaudited) continued

rate investments. The dealer trusts fund the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interests in the bonds. The Trust enters into shortfall agreements with the dealer trusts, which commit the Trust to pay the dealer trusts, in certain circumstances, the difference between the liquidation value of the fixed rate bonds held by the dealer trusts and the liquidation value of the floating rate notes held by third parties, as well as any shortfalls in interest cash flows. The residual interests held by the Trust (inverse floating rate investments) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the dealer trusts to the Trust, thereby collapsing the dealer trusts. The Trust accounts for the transfer of bonds to the dealer trusts as secured borrowings, with the securities transferred remaining in the Trust’s investment assets, and the related floating rate notes reflected as Trust liabilities under the caption “Floating Rate Note Obligations” on the Statement of Assets and Liabilities. The Trust records the interest income from the fixed rate bonds under the caption “Interest” and records the expenses related to floating rate note obligations and any administrative expenses of the dealer trusts under the caption “Interest and Residual Trust Expenses” on the Trust’s Statement of Operations. The notes issued by the dealer trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the dealer trusts for redemption at par at each reset date. At April 30, 2009, Trust investments with a value of $97,489,000 are held by the dealer trusts and serve as collateral for the $59,655,000 in floating rate notes outstanding at that date. Contractual maturities of the floating rate notes and interest rates in effect at April 30, 2009 are presented on the Portfolio of Investments. The average floating rate notes outstanding and average annual interest and fee rate related to residual interests during the year ended April 30, 2009 were $68,573,491 and 1.12%, respectively.

2. Investment Advisory Agreement and Other Transactions with Affiliates

Under the terms of the Trust’s Investment Advisory Agreement, Van Kampen Asset Management (the “Adviser”) provides investment advice and facilities to the Trust for an annual fee payable monthly of .55% of the average daily net assets including current preferred shares and leverage of $29,000,000 entered into to retire previously issued preferred shares of the Trust. The Adviser has agreed to waive investment advisory fees equal to 0.10% of the average daily net assets including current preferred shares and leverage of $29,000,000 entered into to retire previously issued preferred shares of the Trust. During the six months ended April 30, 2009, the Adviser waived approximately $159,900 of its advisory fees. This waiver is voluntary and can be discontinued at any time.

For the six months ended April 30, 2009, the Trust recognized expenses of approximately $16,400 representing legal services provided by Skadden, Arps, Slate, Meagher & Flom LLP, of which a trustee of the Trust is a partner of such firm and he and his law firm provide legal services as legal counsel to the Trust.

Under separate Legal Services, Accounting Services and Chief Compliance Officer (CCO) Employment agreements, the Adviser provides accounting and legal services and the CCO provides compliance services to the Trust. The costs of these services are allocated to each trust. For the six months ended April 30, 2009, the Trust recognized expenses of approximately $32,700 representing Van Kampen Investments Inc.’s or its affiliates’ (collectively “Van Kampen”) cost of providing accounting and legal services to the Trust, as well as the

23

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Notes to Financial Statements n April 30, 2009 (Unaudited) continued

salary, benefits and related costs of the CCO and related support staff paid by Van Kampen. Services provided pursuant to the Legal Services agreement are reported as part of “Professional Fees” on the Statement of Operations. Services provided pursuant to the Accounting Services and CCO Employment agreement are reported as part of “Accounting and Administrative Expenses” on the Statement of Operations.

Certain officers and trustees of the Trust are also officers and directors of Van Kampen. The Trust does not compensate its officers or trustees who are also officers of Van Kampen.

The Trust provides deferred compensation and retirement plans for its trustees who are not officers of Van Kampen. Under the deferred compensation plan, trustees may elect to defer all or a portion of their compensation to a later date. Benefits under the retirement plan are payable upon retirement for a ten-year period and are based upon each trustee’s years of service to the Trust. The maximum annual benefit per trustee under the plan is $2,500.

3. Capital Transactions

For the six months ended April 30, 2009 and the year ended October 31, 2008, transactions in common shares were as follows:

| April 30,
2009 | | October 31,
2008 | | |
| --- | --- | --- | --- | --- |
| Beginning Shares | 15,147,857 | | 15,420,660 | |
| Shares Repurchased * | (1,400 | ) | (272,803 | ) |
| Ending Shares | 15,146,457 | | 15,147,857 | |

• The Trust has a share repurchase program for purposes of enhancing stockholder value and reducing the discount at which the Trust’s shares trade from their net asset value. For the six months ended April 30, 2009 and the year ended October 31, 2008, the Trust repurchased 1,400 and 272,803 of its shares, respectively, at an average discount of 20.11% and 7.90%, respectively, from net asset value per share. The Trust expects to continue to repurchase its outstanding shares at such time and in such amounts as it believes such activity will further the accomplishment of the foregoing objectives, subject to the review of the Trustees.

4. Investment Transactions

During the period, the cost of purchases and proceeds from sales of investments, excluding short-term investments, were $62,618,463 and $88,759,868, respectively.

5. Derivative Financial Instruments

A derivative financial instrument in very general terms refers to a security whose value is “derived” from the value of an underlying asset, reference rate or index.

In order to seek to manage the interest rate exposure of the Trust’s portfolio in a changing interest rate environment, the Trust may purchase or sell financial futures contracts or engage in transactions involving interest rate swaps, caps, floors or collars. The Trust expects to enter into these transactions primarily as a hedge against anticipated interest rate or fixed-income market changes, for duration management or for risk management purposes, but may also enter into these transactions to generate additional income. All of the Trust’s portfolio holdings, including derivative instruments, are marked to market each day with the change in value reflected in the unrealized appreciation/depreciation. Upon disposition, a realized gain or loss is generally recognized.

24

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Notes to Financial Statements n April 30, 2009 (Unaudited) continued

Summarized below are the specific types of derivative financial instruments used by the Trust.

A. Futures Contracts A futures contract is an agreement involving the delivery of a particular asset on a specified future date at an agreed upon price. The Trust generally invests in exchange traded futures contracts on U.S. Treasury securities and typically closes the contract prior to the delivery date. These contracts are generally used to manage the Trust’s effective maturity and duration. Upon entering into futures contracts, the Trust maintains an amount of cash or liquid securities with a value equal to a percentage of the contract amount with either a futures commission merchant pursuant to the rules and regulations promulgated under the 1940 Act, or with its custodian in an account in the broker’s name. This amount is known as initial margin. During the period the futures contract is open, payments are received from or made to the broker based upon changes in the value of the contract (the variation margin). The risk of loss associated with a futures contract is in excess of the variation margin reflected on the Statement of Assets and Liabilities. There were no futures transactions entered into during the six months ended April 30, 2009.

B. Inverse Floating Rate Securities The Trust may invest a portion of its assets in inverse floating rate municipal securities, which are variable debt instruments that pay interest at rates that move in the opposite direction of prevailing interest rates. These investments are typically used by the Trust in seeking to enhance the yield of the portfolio or used as an alternative form of leverage in order to redeem a portion of the Trust’s preferred shares. Inverse floating rate investments tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable. Inverse floating rate investments have varying degrees of liquidity. Inverse floating rate securities in which the Trust may invest include derivative instruments such as residual interest bonds (“RIBs”) or tender option bonds (“TOBs”). Such instruments are typically created by a special purpose trust that holds long-term fixed rate bonds (which may be tendered by the Trust in certain instances) and sells two classes of beneficial interests: short-term floating rate interests, which are sold to third party investors, and inverse floating residual interests, which are purchased by the Trust. The short-term floating rate interests have first priority on the cash flow from the bonds held by the special purpose trust and the Trust is paid the residual cash flow from the bonds held by the special purpose trust.

The Trust generally invests in inverse floating rate investments that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The market value of a “leveraged” inverse floating rate investment generally will fluctuate in response to changes in market rates of interest to a greater extent than the value of an unleveraged investment. The extent of increases and decreases in the value of inverse floating rate investments generally will be larger than changes in an equal principal amount of a fixed rate security having similar credit quality, redemption provisions and maturity, which may cause the Trust’s net asset value to be more volatile than if it had not invested in inverse floating rate investments.

In certain instances, the short-term floating rate interests created by the special purpose trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such interests for repayment of principal, may not be able to be remarketed to third parties. In such cases, the special purpose trust holding the long-term fixed rate bonds may be

25

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Notes to Financial Statements n April 30, 2009 (Unaudited) continued

collapsed. In the case of RIBs or TOBs created by the contribution of long-term fixed income bonds by the Trust, the Trust will then be required to repay the principal amount of the tendered securities. During times of market volatility, illiquidity or uncertainty, the Trust could be required to sell other portfolio holdings at a disadvantageous time to raise cash to meet that obligation.

6. Preferred Shares

The Trust has outstanding 4,640 Auction Preferred Shares (APS) in three series. Series A contains 1,920 shares, Series B contains 1,440 shares and Series C contains 1,280 shares. Dividends are cumulative and the dividend rates are generally reset every 28 days for Series A and B, while Series C is generally reset every 7 days through an auction process. Beginning on February 13, 2008 and continuing through April 30, 2009, all series of preferred shares of the Trust were not successfully remarketed. As a result, the dividend rates of these preferred shares were reset to the maximum applicable rate on APS. The average rate in effect on April 30, 2009 was 0.393%. During the six months ended April 30, 2009, the rates ranged from 0.276% to 3.475%.

Historically, the Trust paid annual fees equivalent to .25% of the preferred share liquidation value for the remarketing efforts associated with the preferred auction. Effective March 16, 2009, the Trust decreased this amount to .15% due to auction failures. In the future, if auctions no longer fail, the Trust may return to an annual fee payment of .25% of the preferred share liquidation value. These fees are included as a component of “Preferred Share Maintenance” expense on the Statement of Operations.

The APS are redeemable at the option of the Trust in whole or in part at the liquidation value of $25,000 per share plus accumulated and unpaid dividends. The Trust is subject to certain asset coverage tests and the APS are subject to mandatory redemption if the tests are not met.

The Trust has the option to enter into additional inverse floating rate securities as an alternative form of leverage in order to redeem and retire a portion of its preferred shares. For the six months ended April 30, 2009, the Trust did not exercise this option.

7. Indemnifications

The Trust enters into contracts that contain a variety of indemnifications. The Trust’s maximum exposure under these arrangements is unknown. However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

8. Accounting Pronouncements

On March 19, 2008, Financial Accounting Standards Board released Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities (FAS 161). FAS 161 requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The application of FAS 161 is required for fiscal years beginning after November 15, 2008. At this time, management does not believe the adoption of FAS 161 will impact the financial statement amounts; however, additional footnote disclosures may be required about the use of derivative instruments and hedging items.

26

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals Notes to Financial Statements n April 30, 2009 (Unaudited) continued

On April 9, 2009, the Financial Accounting Standards Board issued Staff Position No. 157-4, Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly (FSP 157-4). FSP 157-4 provides additional guidance for estimating fair value in accordance with FAS 157 when the volume and level of activity for the assets or liability have significantly decreased. FSP 157-4 also requires additional disaggregation of the current FAS 157 required disclosures. FSP 157-4 is effective for interim and annual reporting periods ending after June 15, 2009, and shall be applied prospectively. At this time, management is evaluating the implications of FSP 157-4 and the impact it will have on the financial statement disclosures.

27

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Van Kampen Trust for Investment Grade New York Municipals

Board of Trustees, Officers, and Important Addresses

Board of Trustees David C. Arch Jerry D. Choate Rod Dammeyer Linda Hutton Heagy R. Craig Kennedy Howard J Kerr Jack E. Nelson Hugo F. Sonnenschein Wayne W. Whalen* – Chairman Suzanne H. Woolsey Officers Edward C. Wood III President and Principal Executive Officer Kevin Klingert Vice President Stefanie V. Chang Yu Vice President and Secretary John L. Sullivan Chief Compliance Officer Stuart N. Schuldt Chief Financial Officer and Treasurer Investment Adviser Van Kampen Asset Management 522 Fifth Avenue New York, New York 10036 Custodian State Street Bank and Trust Company One Lincoln Street Boston, Massachusetts 02111 Transfer Agent Computershare Trust Company, N.A. c/o Computershare Investor Services P.O. Box 43078 Providence, Rhode Island 02940-3078 Legal Counsel Skadden, Arps, Slate, Meagher & Flom LLP 155 North Wacker Drive Chicago, Illinois 60606 Independent Registered Public Accounting Firm Deloitte & Touche LLP 111 South Wacker Drive Chicago, Illinois 60606-4301

• “Interested persons” of the Trust, as defined in the Investment Company Act of 1940, as amended.

28

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Begin box 3

Van Kampen Trust for Investment Grade New York Municipals An Important Notice Concerning Our U.S. Privacy Policy continued

| • | We may obtain
information about account balances, your use of account(s) and
the types of products and services you prefer to receive from us
through your dealings and transactions with us and other sources. |
| --- | --- |
| • | We may obtain
information about your creditworthiness and credit history from
consumer reporting agencies. |
| • | We may collect
background information from and through third-party vendors to
verify representations you have made and to comply with various
regulatory requirements. |
| • | If you interact with
us through our public and private Web sites, we may collect
information that you provide directly through online
communications (such as an e-mail address). We may also collect information about your Internet
service provider, your domain name, your computer’s
operating system and Web browser, your use of our Web sites and
your product and service preferences, through the use of
”cookies.” ”Cookies” recognize your computer
each time you return to one of our sites, and help to improve
our sites’ content and personalize your experience on our
sites by, for example, suggesting offerings that may interest
you. Please consult the Terms of Use of these sites for more
details on our use of cookies. |

2. When Do We Disclose Personal Information We Collect About You?

To provide you with the products and services you request, to better serve you, to manage our business and as otherwise required or permitted by law, we may disclose personal information we collect about you to other affiliated companies and to nonaffiliated third parties.

A. Information We Disclose to Our Affiliated Companies. In order to manage your account(s) effectively, including servicing and processing your transactions, to let you know about products and services offered by us and affiliated companies, to manage our business, and as otherwise required or permitted by law, we may disclose personal information to other affiliated companies. Offers for products and services from affiliated companies are developed under conditions designed to safeguard your personal information.

B. Information We Disclose to Third Parties. We do not disclose personal information that we collect about you to nonaffiliated third parties except to enable them to provide marketing services on our behalf, to perform joint marketing agreements with other financial institutions, and as otherwise required or permitted by law. For example, some instances where we may disclose information about you to third

(continued on next page)

End box 3

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Begin box 3

Van Kampen Trust for Investment Grade New York Municipals An Important Notice Concerning Our U.S. Privacy Policy continued

parties include: for servicing and processing transactions, to offer our own products and services, to protect against fraud, for institutional risk control, to respond to judicial process or to perform services on our behalf. When we share personal information with a nonaffiliated third party, they are required to limit their use of personal information to the particular purpose for which it was shared and they are not allowed to share personal information with others except to fulfill that limited purpose.

3. How Do We Protect the Security and Confidentiality of Personal Information We Collect About You?

We maintain physical, electronic and procedural security measures to help safeguard the personal information we collect about you. We have internal policies governing the proper handling of client information. Third parties that provide support or marketing services on our behalf may also receive personal information, and we require them to adhere to confidentiality standards with respect to such information.

4. How Can You Limit the Sharing of Certain Types of Personal Information With Affiliated Companies?

We respect your privacy and offer you choices as to whether we share with affiliated companies personal information that was collected to determine your eligibility for products and services you request (“eligibility information”). Please note that, even if you direct us not to share eligibility information with affiliated companies (“opt-out”), we may still share personal information, including eligibility information, with those companies in circumstances excluded from the opt-out under applicable law, such as to process transactions or to service your account. We may also share certain other types of personal information with affiliated companies—such as your name, address, telephone number, e-mail address and account number(s), and information about your transactions and experiences with us.

5. How Can You Limit the Use of Certain Types of Personal Information by Affiliated Companies for Marketing?

You may limit affiliated companies from marketing their products or services to you based on your personal information that they receive from affiliated companies. This information includes your income, assets and account history. Your choice to limit marketing offers from affiliated companies will apply until you tell us to change your choice.

(continued on next page)

End box 3

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Begin box 3

Van Kampen Trust for Investment Grade New York Municipals An Important Notice Concerning Our U.S. Privacy Policy continued

If you wish to opt-out of sharing and to limit marketing offers, you may do so by:

•	Calling us at (800) 847-2424 Monday-Friday between 8 a.m. and 8 p.m. (ET)
•	Writing to us at the
following address: Van Kampen Privacy Department Harborside Financial Center, Plaza Two, 3rd Floor Jersey City, NJ 07311

If you choose to write to us, your written request should include your name, address, telephone number and account number(s) to which the opt-out applies and should not be sent with any other correspondence. In order to process your request, we require that the request be provided by you directly and not through a third party.

If you have previously notified us about your privacy preferences, it is not necessary to do so again unless you decide to change your preferences. Your opt-out preference will remain in effect with respect to this Policy (as it may be amended) until you notify us otherwise in writing. If you have a joint account, your direction for us not to share this information with other affiliated companies and for those affiliated companies not to use your personal information for marketing will be applied to all account holders on that account.

Please understand that if you opt-out, you and any joint account holders may not receive information about affiliated company products and services that could help you manage your financial resources and achieve your investment objectives.

If you hold more than one account with Van Kampen, you may receive multiple privacy policies from us, and would need to follow the directions stated in each particular policy for each account you have with us.

SPECIAL NOTICE TO RESIDENTS OF VERMONT

This section supplements our Policy with respect to our individual clients who have a Vermont address and supersedes anything to the contrary in the above Policy with respect to those clients only.

The State of Vermont requires financial institutions to obtain your consent prior to sharing personal information that they collect about you with affiliated companies and nonaffiliated third parties other than in certain limited circumstances. Except as permitted by law, we will not share personal information we collect about you with nonaffiliated third parties or other affiliated companies unless you provide us with your written consent to share such information (“opt-in”).

(continued on back)

End box 3

END PAGE WIDTH PAGEBREAK

BEGIN PAGE WIDTH

Begin box 3

Van Kampen Trust for Investment Grade New York Municipals An Important Notice Concerning Our U.S. Privacy Policy continued

If you wish to receive offers for investment products and services offered by or through other affiliated companies, please notify us in writing at the following address:

Van Kampen Privacy Department Harborside Financial Center, Plaza Two, 3rd Floor Jersey City, NJ 07311

Your authorization should include your name, address, telephone number and account number(s) to which the opt-in applies and should not be sent with any other correspondence. In order to process your authorization, we require that the authorization be provided by you directly and not through a third-party.

End box 3

Van Kampen Funds Inc.

522 Fifth Avenue

New York, New York 10036

www.vankampen.com

Copyright © 2009 Van Kampen Funds Inc.

All rights reserved. Member FINRA/SIPC

VTNSAN 6/09

IU09-02573P-Y04/09

END PAGE WIDTH PAGEBREAK

TOC /TOC link2 "Item 2. Code of Ethics"

Item 2. Code of Ethics.

Not applicable for semi-annual reports.

link2 "Item 3. Audit Committee Financial Expert"

Item 3. Audit Committee Financial Expert.

Not applicable for semi-annual reports.

link2 "Item 4. Principal Accountant Fees and Services"

Item 4. Principal Accountant Fees and Services.

Not applicable for semi-annual reports.

link2 "Item 5. Audit Committee of Listed Registrants"

Item 5. Audit Committee of Listed Registrants.

Not applicable for semi-annual reports.

link2 "Item 6. Schedule of Investments"

Item 6. Schedule of Investments.

(a) Please refer to Item #1.

(b) Not applicable.

link2 "Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies"

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable for semi-annual reports.

link2 "Item 8. Portfolio Managers of Closed-End Management Investment Companies"

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable for semi-annual reports.

link2 "Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers"

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

			Total Number of — Shares Purchased	Maximum Number
			as	of Shares that may
			Part of Publicly	yet be Purchased
	Total Number of	Average Price	Announced Plans	Under the Plans or
Period	Shares Purchased	Paid per Share	or Programs	Programs
November				1,213,585
December	1,400	8.93	1,400	1,212,185
January				1,212,185
February				1,212,185
March				1,212,185
April				1,212,185

The Trust expects to continue to repurchase its outstanding shares at such time and in such amounts as it believes will further the accomplishment of the foregoing objectives, subject to review by the Board of Trustees.

Folio /Folio

PAGEBREAK

link2 "Item 10. Submission of Matters to a Vote of Security Holders"

Item 10. Submission of Matters to a Vote of Security Holders.

Not applicable.

link2 "Item 11. Controls and Procedures"

Item 11. 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-CSRS 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 registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

link2 "Item 12. Exhibits"

Item 12. Exhibits.

(1) Code of Ethics – Not applicable for semi-annual reports.

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

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

Folio /Folio

PAGEBREAK

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 Trust For Investment Grade New York Municipals

By:	/s/ Edward C. Wood III
Name:	Edward C. Wood III
Title:	Principal Executive Officer
Date:	June 23, 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:	June 23, 2009
By:	/s/ Stuart N. Schuldt
Name:	Stuart N. Schuldt
Title:	Principal Financial Officer
Date:	June 23, 2009

Folio /Folio