<SEC-DOCUMENT>0001258897-13-000249.txt : 20130429
<SEC-HEADER>0001258897-13-000249.hdr.sgml : 20130427
<ACCEPTANCE-DATETIME>20130429171655
ACCESSION NUMBER:		0001258897-13-000249
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20130228
FILED AS OF DATE:		20130429
DATE AS OF CHANGE:		20130429
EFFECTIVENESS DATE:		20130429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Invesco California Value Municipal Income Trust
		CENTRAL INDEX KEY:			0000895531
		IRS NUMBER:				367017425
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07404
		FILM NUMBER:		13792902

	BUSINESS ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30309
		BUSINESS PHONE:		404-439-3217

	MAIL ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Invesco Van Kampen California Value Municipal Income Trust
		DATE OF NAME CHANGE:	20100601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19981006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN AMERICAN CAPITAL CALIFORNIA VALUE MUNIC INC TRUST
		DATE OF NAME CHANGE:	19960102
</SEC-HEADER>
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<DESCRIPTION>NSAR-B
<TEXT>
<PAGE>      PAGE  1
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000 C000000 0000895531
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000 J000000 A
001 A000000 INVESCO CALI VALUE MUNICIPAL  INCOME TRUST
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001 C000000 8002415477
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008 C000001 801-33949
008 D010001 Atlanta
008 D020001 GA
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008 A000002 Invesco Asset Management Deutschland GmbH
008 B000002 S
008 C000002 801-67712
008 D010002 Frankfurt
008 D050002 Germany
008 D060002 60313
008 A000003 Invesco Asset Management Limited
008 B000003 S
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008 D010003 London
008 D050003 United Kingdom
008 D060003 EC2A1AG
008 A000004 Invesco Asset Management (Japan) Ltd.
008 B000004 S
008 C000004 801-52601
008 D010004 Tokyo
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008 A000005 Invesco Australia Limited
008 B000005 S
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<PAGE>      PAGE  2
008 D050005 Australia
008 D060005 3000
008 A000006 Invesco Hong Kong Limited
008 B000006 S
008 C000006 801-47856
008 D010006 HONG KONG
008 D050006 HONG KONG
008 A000007 Invesco Senior Secured Management, Inc.
008 B000007 S
008 C000007 801-38119
008 D010007 NEW YORK
008 D020007 NY
008 D030007 10036
008 D040007 2727
008 A000008 Invesco Canada Ltd.
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008 D010008 TORONTO
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010 C010001 Houston
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012 C010001 PROVIDENCE
012 C020001 RI
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013 B010001 HOUSTON
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022 A000003 WELLS FARGO SECURITIES, LLC
022 B000003 56-2326000
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022 A000004 RBC CAPITAL MARKETS CORP.
022 B000004 13-5033225
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022 A000005 CITIGROUP GLOBAL MARKETS INC.
022 B000005 11-2418191
022 C000005     11791
022 D000005     11696
022 A000006 BANC OF AMERICA SECURITIES LLC
022 B000006 56-2058405
022 C000006     13461
022 D000006      3010
022 A000007 GOLDMAN, SACHS & CO.
022 B000007 13-5108880
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022 A000008 UBS SECURITIES LLC
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SIGNATURE   KELLI GALLEGOS
TITLE       ASST. VP & TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>dex9977b.txt
<DESCRIPTION>EX-99.77B
<TEXT>
<PAGE>

            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees and Shareholders of Invesco California Value Municipal
Income Trust:

In planning and performing our audits of the financial statements of Invesco
California Value Municipal Income Trust (formerly known as Invesco Van Kampen
California Value Municipal Income Trust; hereafter referred to as the "Trust")
as of and for the year ended February 28, 2013, in accordance with the
standards of the Public Company Accounting Oversight Board (United States), we
considered the Trust's internal control over financial reporting, including
controls over safeguarding securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, but not for the
purpose of expressing an opinion on the effectiveness of the Trust's internal
control over financial reporting. Accordingly, we do not express an opinion on
the effectiveness of the Trust's internal control over financial reporting.

The management of the Trust is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A trust's internal control
over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally
accepted accounting principles. A trust's internal control over financial
reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the trust; (2)
provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the trust
are being made only in accordance with authorizations of management and
trustees of the trust; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition
of a trust's assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees, in the
normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement of the
Trust's annual or interim financial statements will not be prevented or
detected on a timely basis.

Our consideration of the Trust's internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control over financial
reporting that might be material weaknesses under standards established by the
Public Company Accounting Oversight Board (United States). However, we noted no
deficiencies in the Trust's internal control over financial reporting and its
operation, including controls over safeguarding securities that we consider to
be material weaknesses as defined above as of February 28, 2013.

This report is intended solely for the information and use of management and
the Board of Trustees of the Trust and the Securities and Exchange Commission
and is not intended to be and should not be used by anyone other than these
specified parties.

/s/PricewaterhouseCoopers LLP
Houston, TX
April 26, 2013
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1A
<SEQUENCE>3
<FILENAME>dex9977q1a.txt
<DESCRIPTION>EX-99.77Q1A
<TEXT>
<PAGE>

                                                               Sub-Item 77Q1(a)

                              AMENDMENT NO. 1 TO
                                    BYLAWS
         OF INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST

                      Adopted effective December 3, 2012

The Bylaws of Invesco Van Kampen California Value Municipal Income Trust (the
"Trust"), adopted effective May 15, 2012, (the "Bylaws"), are hereby amended as
follows:

   1. Invesco Van Kampen California Value Municipal Income Trust is now named
Invesco California Value Municipal Income Trust.

   2. All references to Invesco Van Kampen California Value Municipal Income
Trust in the Bylaws are hereby deleted and replaced with Invesco California
Value Municipal Income Trust.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1E
<SEQUENCE>4
<FILENAME>dex9977q1e.txt
<DESCRIPTION>EX-99.77Q1E
<TEXT>
<PAGE>

                                                               SUB-ITEM 77Q1(e)

                            MEMORANDUM OF AGREEMENT
                             (EXPENSE LIMITATIONS)

   This Memorandum of Agreement is entered into as of the Effective Date on the
attached exhibit (the "Exhibit"), between Invesco California Value Municipal
Income Trust, Invesco High Income Trust II, Invesco Municipal Opportunity
Trust, Invesco Trust for Investment Grade New York Municipals (the "Funds"),
and Invesco Advisers, Inc. ("Invesco"). Invesco shall and hereby agrees to
waive fees or reimburse expenses of the Fund, on behalf of its respective
classes as applicable, severally and not jointly, as indicated in the attached
Exhibit.

   For and in consideration of the mutual terms and agreements set forth herein
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Funds and Invesco agree as follows:

   For the Contractual Limits (listed in Exhibit A), the Funds and Invesco
agree until at least the expiration date set forth on the attached Exhibit A
(the "Expiration Date") that Invesco will waive its fees or reimburse expenses
to the extent that total annual fund operating expenses after fee waiver and/or
expense reimbursement of a class of the Funds (excluding (i) interest;
(ii) taxes; (iii) dividend expense on short sales; (iv) extraordinary or
non-routine items; (v) expenses that the Fund has incurred but did not actually
pay because of an expense offset arrangement, if applicable) exceed the rate,
on an annualized basis, set forth on the Exhibit of the average daily net
assets allocable to such class. Acquired fund fees and expenses are not fees or
expenses incurred by a fund directly but are expenses of the investment
companies in which a fund invests. These fees and expenses are incurred
indirectly through the valuation of a fund's investment in these investment
companies. Acquired fund fees and expenses are required to be disclosed and
included in the total annual fund operating expenses in the prospectus fee
table. As a result, the net total annual fund operating expenses shown in the
prospectus fee table may exceed the expense limits reflected in Exhibit A. With
regard to the Contractual Limits, the Boards of Trustees of the Funds and
Invesco may terminate or modify this Memorandum of Agreement prior to the
Expiration Date only by mutual written consent. Invesco will not have any right
to reimbursement of any amount so waived or reimbursed.

   For the Contractual Limits, the Funds and Invesco agree to review the
then-current expense limitations for each class of the Fund listed on the
Exhibit on a date prior to the Expiration Date to determine whether such
limitations should be amended, continued or terminated. The expense limitations
will expire upon the Expiration Date unless the Funds and Invesco have agreed
to continue them. The Exhibit will be amended to reflect any such agreement.

   It is expressly agreed that the obligations of the Funds hereunder shall not
be binding upon any of the Trustees, shareholders, partners, nominees,
officers, agents or employees of the Funds personally, but shall only bind the
assets and property of the Funds, as provided in the Fund's Agreement and
Declaration of Trust. The execution and delivery of this Memorandum of
Agreement have been authorized by the Trustees of the Registrant, and this
Memorandum of Agreement has been executed and delivered by an authorized
officer of the Funds acting as such; neither such authorization by such
Trustees/Managing General Partners nor such execution and delivery by such
officer shall be deemed to have been made by any of them individually or to
impose any liability on any of them personally, but shall bind only the assets
and property of the Funds, as provided in the Fund's Agreement and Declaration
of Trust.

<PAGE>

   IN WITNESS WHEREOF, the Funds and Invesco have entered into this Memorandum
of Agreement as of the Effective Dates on the attached Exhibit.

                                          INVESCO CALIFORNIA VALUE MUNICIPAL
                                          INCOME TRUST
                                          INVESCO HIGH INCOME TRUST II
                                          INVESCO MUNICIPAL OPPORTUNITY TRUST
                                          INVESCO TRUST FOR INVESTMENT GRADE
                                          NEW YORK MUNICIPALS

                                          By:     /s/ John M. Zerr
                                                  ------------------------------
                                          Title:  Senior Vice President

                                          INVESCO ADVISERS, INC.

                                          By:     /s/ John M. Zerr
                                                  ------------------------------
                                          Title:  Senior Vice President

                                      2

<PAGE>

                                                        as of November 13, 2012

                                EXHIBIT "A"/1/

                INVESCO CALIFORNIA VALUE MUNICIPAL INCOME TRUST

<TABLE>
<CAPTION>
                           CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                        VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                       ------------ ---------- ----------------- ---------------
<S>                        <C>          <C>        <C>               <C>
Invesco California Value
  Municipals Income Trust  Contractual    0.52%     August 27, 2012  August 31, 2014
</TABLE>

                         INVESCO HIGH INCOME TRUST II
<TABLE>
<CAPTION>

                              CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                           VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                          ------------ ---------- ----------------- ---------------
<S>                           <C>          <C>        <C>               <C>
Invesco High Income Trust II  Contractual    1.10%     August 27, 2012  August 31, 2014
</TABLE>

                      INVESCO MUNICIPAL OPPORTUNITY TRUST
<TABLE>
<CAPTION>

                               CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF    EXPIRATION
FUND                            VOLUNTARY   LIMITATION   CURRENT LIMIT         DATE
----                           ------------ ---------- ----------------- ----------------
<S>                            <C>          <C>        <C>               <C>
Invesco Municipal Opportunity
  Trust                        Contractual    0.89%    October 15, 2012  October 31, 2014
</TABLE>

                 INVESCO TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS
<TABLE>
<CAPTION>

                              CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                           VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                          ------------ ---------- ----------------- ---------------
<S>                           <C>          <C>        <C>               <C>
Invesco Trust for Investment
  Grade New York Municipals   Contractual    0.69%     August 27, 2012  August 31, 2014
</TABLE>

                                      3
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
