UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-10333

Name of Fund: BlackRock Municipal Income Investment Trust (BBF)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Municipal Income Investment Trust, 55 East 52nd Street, New York, NY 10055.

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2010

Date of reporting period: 10/31/2009

Item 1 – Schedule of Investments

 

 

BlackRock Municipal Income Investment Trust (BBF)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

California - 16.0%

 

Bay Area Toll Authority, RB, San Francisco Bay Area,
Series F 1, 5.63%, 4/01/44

 

$

1,355

 

$

1,459,281

 

 

 

California Health Facilities Financing Authority, California,
RB, Catholic Healthcare West, Series A, 6.00%, 7/01/39

 

 

890

 

 

930,415

 

 

 

California Health Facilities Financing Authority, RB, Cedars-
Sinai Medical Center, 5.00%, 8/15/39

 

 

805

 

 

748,505

 

 

 

California Health Facilities Financing Authority, RB, Saint
Joseph Health System, Series A, 5.75%, 7/01/39

 

 

1,375

 

 

1,425,449

 

 

 

California State Public Works Board, RB, Department General
Services, Buildings 8 & 9, Series A, 6.25%, 4/01/34

 

 

2,075

 

 

2,152,584

 

 

 

Los Angeles Department of Water & Power, RB, Power
System, Sub-Series A 1, 5.25%, 7/01/38

 

 

1,450

 

 

1,525,139

 

 

 

San Diego Public Facilities Financing Authority, Refunding RB,
Series B, 5.50%, 8/01/39

 

 

4,210

 

 

4,474,135

 

 

 

San Diego Regional Building Authority, California, RB,
County Operations Center & Annex, Series A,
5.38%, 2/01/36

 

 

1,600

 

 

1,648,656

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14,364,164

 

Colorado - 3.5%

 

City & County of Denver Colorado, Refunding RB, Series A,
5.25%, 11/15/36

 

 

2,060

 

 

2,048,155

 

 

 

Colorado Health Facilities Authority, Refunding RB, Catholic
Healthcare, Series A, 5.50%, 7/01/34 (a)

 

 

1,095

 

 

1,115,466

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,163,621

 

District of Columbia - 1.2%

 

District of Columbia Water & Sewer Authority, RB, Series A,
5.25%, 10/01/29

 

 

1,000

 

 

1,059,840

 

Florida - 35.2%

 

Ave Maria Stewardship Community Development District,
Special Assessment, BAN, 4.80%, 11/01/12

 

 

1,000

 

 

742,440

 

 

 

City of Jacksonville Florida, RB (MBIA),
5.00%, 10/01/26

 

 

4,000

 

 

4,049,440

 

 

 

City of Tampa Florida, RB, University Tampa Project
(Radian), 5.63%, 4/01/32

 

 

2,800

 

 

2,721,712

 

 

 

City of Tampa Florida, Refunding RB, Series A,
5.00%, 10/01/26

 

 

4,000

 

 

4,079,200

 

 

 

County of Miami-Dade Florida, RB, Sub-Series C (MBIA),
5.63%, 10/01/28 (b)

 

 

17,930

 

 

5,514,730

 

 

 

County of Saint John’s Florida, RB, CAB (AMBAC), 5.34%,
6/01/30 (b)

 

 

3,945

 

 

1,215,849

 

 

 

Portfolio Abbreviations

 

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list.

 

 

AGC

Assured Guaranty Corp.

AMBAC

American Municipal Bond Assurance Corp.

ARB

Airport Revenue Bond

BAN

Bond Anticipation Notes

CAB

Capital Appreciation Bonds

GO

General Obligation Bonds

HFA

Housing Finance Agency

IDA

Industrial Development Authority

ISD

Independent School District

MBIA

Municipal Bond Investors Assurance (National Public Finance Guaranty Corp.)

RB

Revenue Bonds

S/F

Single-Family

VHA

Veterans Hospital Administration

1


 

 

BlackRock Municipal Income Investment Trust (BBF)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

 

Escambia County Health Facilities Authority, RB, Florida
Health Care Facilities Loan, VHA Program (AMBAC),
5.95%, 7/01/20

 

$

649

 

$

659,993

 

 

 

Laguna Lakes Community Development District, Florida, RB,
Series A, 6.40%, 5/01/13 (c)

 

 

1,550

 

 

1,803,239

 

 

 

Miami Beach Health Facilities Authority, Refunding RB, Mount
Sinai Medical Center Florida, 6.75%, 11/15/21

 

 

825

 

 

830,165

 

 

 

Miami-Dade County Expressway Authority, Florida, Refunding
RB (MBIA), 5.13%, 7/01/25

 

 

500

 

 

506,365

 

 

 

New River Community Development District, Special
Assessment, Series B, 5.00%, 5/01/13 (d)(e)

 

 

1,500

 

 

679,455

 

 

 

Northern Palm Beach County Improvement District, RB,
Water Control & Improvement 43, 6.10%, 8/01/11 (c)

 

 

1,155

 

 

1,253,452

 

 

 

Northern Palm Beach County Improvement District, RB,
Water Control & Improvement 43, 6.10%, 8/01/21

 

 

155

 

 

147,982

 

 

 

Northern Palm Beach County Improvement District, RB,
Water Control & Improvement, Unit Development No. 43,
6.13%, 8/01/11 (c)

 

 

2,950

 

 

3,254,116

 

 

 

Village Center Community Development District Recreational
Revenue, RB, Series A (MBIA), 5.00%, 11/01/32

 

 

1,795

 

 

1,586,888

 

 

 

Volusia County Educational Facility Authority, RB,
Educational Facilities, Embry Riddle Aero, Series A,
5.75%, 10/15/29

 

 

2,000

 

 

2,000,680

 

 

 

Watergrass Community Development District, Special
Assessment, Series B, 5.13%, 11/01/14

 

 

1,000

 

 

545,170

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31,590,876

 

Georgia - 6.4%

 

Metropolitan Atlanta Rapid Transit Authority, RB, 3rd Series,
5.00%, 7/01/39

 

 

2,450

 

 

2,502,601

 

 

 

Municipal Electric Authority of Georgia, RB, General
Resolution Projects, Sub-Series D, 6.00%, 1/01/23

 

 

2,900

 

 

3,266,850

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,769,451

 

Illinois - 4.3%

 

Illinois Finance Authority, RB, Northwestern Memorial
Hospital, Series A, 6.00%, 8/15/39

 

 

1,900

 

 

2,045,521

 

 

 

Illinois Finance Authority, RB, Rush University Medical Center
Obligation Group, Series B, 7.25%, 11/01/30

 

 

1,600

 

 

1,807,648

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,853,169

 

Indiana - 2.6%

 

Indiana Municipal Power Agency, Indiana, RB, Indiana Muni
Power Agency Series B, 6.00%, 1/01/39

 

 

2,210

 

 

2,370,777

 

Kansas - 1.8%

 

Kansas Development Finance Authority, RB, Adventist
Health, 5.50%, 11/15/29

 

 

1,600

 

 

1,642,176

 

Kentucky - 3.5%

 

Louisville & Jefferson County Metropolitan Government
Parking Authority, RB, Series A, 5.75%, 12/01/34

 

 

1,500

 

 

1,625,160

 

 

 

Louisville, Jefferson County Metropolitan Government, RB,
Jewish Hospital Saint Mary’s Healthcare, 6.13%, 2/01/37

 

 

1,450

 

 

1,515,192

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,140,352

 

2


 

 

BlackRock Municipal Income Investment Trust (BBF)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

Massachusetts - 2.1%

 

Massachusetts Health & Educational Facilities Authority, RB,
Tufts University, 5.38%, 8/15/38

 

$

1,000

 

$

1,071,140

 

 

 

Massachusetts State College Building Authority, RB, Series A,
5.50%, 5/01/39

 

 

750

 

 

785,602

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,856,742

 

Michigan - 4.0%

 

Michigan State Building Authority, Refunding RB, Facilities
Program, Series I, 6.00%, 10/15/38

 

 

1,000

 

 

1,060,360

 

 

 

Michigan State Hospital Finance Authority, Refunding RB,
Hospital, Henry Ford Health, 5.75%, 11/15/39 (a)

 

 

1,415

 

 

1,356,490

 

 

 

Royal Oak Hospital Finance Authority, Michigan, RB, William
Beaumont Hospital, 8.25%, 9/01/39

 

 

995

 

 

1,155,583

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,572,433

 

Nevada - 1.9%

 

City of Las Vegas Nevada, GO, Limited Tax, Performing Arts
Center, 6.00%, 4/01/34

 

 

1,600

 

 

1,745,312

 

New Jersey - 2.9%

 

New Jersey State Housing & Mortgage Finance Agency, RB,
S/F Housing, Series CC, 5.25%, 10/01/29 (a)

 

 

1,165

 

 

1,198,074

 

 

 

New Jersey Transportation Trust Fund Authority,
New Jersey, RB, Transportation System, Series A,
5.88%, 12/15/38

 

 

1,295

 

 

1,400,788

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,598,862

 

New York - 7.1%

 

Long Island Power Authority, RB, Series A, 5.50%, 4/01/24

 

 

1,055

 

 

1,137,754

 

 

 

New York City Transitional Finance Authority, RB, Fiscal
2009, Series S-3, 5.25%, 1/15/39

 

 

1,500

 

 

1,557,570

 

 

 

New York State Dormitory Authority, RB, Education,
Series B, 5.25%, 3/15/38

 

 

2,000

 

 

2,093,340

 

 

 

Triborough Bridge & Tunnel Authority, New York, RB,
General, Series A-2, 5.38%, 11/15/38

 

 

1,510

 

 

1,608,377

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,397,041

 

North Carolina - 2.3%

 

North Carolina Eastern Municipal Power Agency, North
Carolina, RB, Series B, 5.00%, 1/01/26

 

 

450

 

 

458,253

 

 

 

North Carolina Medical Care Commission, RB, Duke University
Health System, Series A, 5.00%, 6/01/42 (a)

 

 

1,355

 

 

1,329,296

 

 

 

North Carolina Municipal Power Agency, RB, No. 1 Catawba,
North Carolina, Series A, 5.00%, 1/01/30

 

 

320

 

 

322,790

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,110,339

 

Ohio - 1.1%

 

Ohio Air Quality Development Authority, RB, Ohio Valley
Electric Corp., 5.63%, 10/01/19

 

 

970

 

 

967,109

 

Pennsylvania - 3.9%

 

Pennsylvania Economic Development Financing Authority,
RB, Pennsylvania, American Water Co. Project,
6.20%, 4/01/39

 

 

500

 

 

533,005

 

 

 

Pennsylvania Turnpike Commission, RB, Sub-Series B,
5.25%, 6/01/39

 

 

2,945

 

 

2,929,951

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,462,956

 

Puerto Rico - 4.7%

 

Puerto Rico HFA, RB, Subordinate, Capital Fund
Modernization, 5.13%, 12/01/27

 

 

1,500

 

 

1,497,300

 

3


 

 

BlackRock Municipal Income Investment Trust (BBF)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

 

Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A,
5.75%, 8/01/37

 

$

2,605

 

$

2,695,133

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,192,433

 

Texas - 7.1%

 

Conroe ISD, Texas, GO, School Building,
Series A, 5.75%, 2/15/35

 

 

890

 

 

957,925

 

 

 

Harris County Health Facilities Development Corp.,
Refunding RB, Memorial Hermann Healthcare System,
Series B, 7.13%, 12/01/31

 

 

500

 

 

559,360

 

 

 

Houston Texas Airport Systems Revenue, Refunding ARB,
Senior Lien, Series A, 5.50%, 7/01/39

 

 

595

 

 

617,158

 

 

 

Lower Colorado River Authority, Refunding RB,
5.75%, 5/15/28

 

 

810

 

 

849,844

 

 

 

Lower Colorado River Authority, Refunding RB,
5.50%, 5/15/33

 

 

2,000

 

 

2,075,100

 

 

 

North Texas Tollway Authority, Refunding RB, System, First
Tier, Series K-1 (AGC), 5.75%, 1/01/38

 

 

1,250

 

 

1,323,837

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,383,224

 

Utah - 1.3%

 

City of Riverton Utah, RB, IHC Health Services Inc.,
5.00%, 8/15/41 (a)

 

 

1,205

 

 

1,167,621

 

Virginia - 1.3%

 

Virginia Public School Authority, Virginia, RB, School
Financing, 6.50%, 12/01/35

 

 

1,000

 

 

1,149,370

 

Wisconsin - 1.8%

 

Wisconsin Health & Educational Facilities Authority,
Refunding RB, Froedtert & Community Health Inc.,
5.25%, 4/01/39

 

 

1,675

 

 

1,645,369

 

Wyoming - 1.4%

 

County of Sweetwater, Wyoming, Refunding RB, Idaho Power
Co. Project, 5.25%, 7/15/26

 

 

1,235

 

 

1,278,102

 

 

 

Total Municipal Bonds - 117.4%

 

 

 

 

 

105,481,339

 

 

 

Municipal Bonds Transferred to
Tender Option Bond Trusts (f)

 

 

 

 

 

 

 

California - 9.5%

 

California Educational Facilities Authority, RB, University
of Southern California, Series A, 5.25%, 10/01/39

 

 

1,995

 

 

2,102,351

 

 

 

Los Angeles Community College District, California, GO,
Election of 2008, Series A, 6.00%, 8/01/33

 

 

3,898

 

 

4,404,958

 

 

 

Los Angeles Unified School District, California, GO,
Series I, 5.00%, 1/01/34

 

 

400

 

 

404,560

 

 

 

University of California, RB, Series O, 5.75%, 5/15/34

 

 

1,500

 

 

1,658,835

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8,570,704

 

District of Columbia - 3.9%

 

District of Columbia, RB, Series A, 5.50%, 12/01/30

 

 

1,395

 

 

1,535,574

 

 

 

District of Columbia Water & Sewer Authority, RB,
Series A, 5.50%, 10/01/39

 

 

1,799

 

 

1,920,143

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,455,717

 

Florida - 9.7%

 

Jacksonville Economic Development Commission, RB,
Mayo Clinic Jacksonville, Series B, 5.50%, 11/15/36

 

 

7,490

 

 

7,598,455

 

4


 

 

BlackRock Municipal Income Investment Trust (BBF)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds Transferred to
Tender Option Bond Trusts (f)

 

Par
(000)

 

Value

 

 

 

Jacksonville Electric Authority, RB, River Power Park, Issue

 

 

 

 

 

 

 

 

 

Three Series Two, 5.00%, 10/01/37

 

$

1,110

 

$

1,111,388

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8,709,843

 

Illinois - 3.5%

 

Illinois Finance Authority, RB, University of Chicago,
Series B, 6.25%, 7/01/38

 

 

2,800

 

 

3,167,640

 

New Hampshire - 1.3%

 

New Hampshire Health & Education Facilities Authority,
Refunding RB, Dartmouth College, 5.25%, 6/01/39

 

 

1,094

 

 

1,170,994

 

Nevada - 5.5%

 

Clark County Water Reclamation District, GO,
Limited Tax, 6.00%, 7/01/38

 

 

2,500

 

 

2,743,975

 

 

 

Clark County Water Reclamation District, GO, Series B,
5.50%, 7/01/29

 

 

1,994

 

 

2,167,197

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,911,172

 

New York - 4.1%

 

New York City Municipal Water Finance Authority, RB,
Fiscal 2009, Series A, 5.75%, 6/15/40

 

 

1,410

 

 

1,554,650

 

 

 

New York City Municipal Water Finance Authority, RB,
Series FF-2, 5.50%, 6/15/40

 

 

1,995

 

 

2,161,927

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,716,577

 

South Carolina - 2.1%

 

South Carolina State Public Service Authority, RB,
Santee Cooper, Series A, 5.50%, 1/01/38

 

 

1,755

 

 

1,874,673

 

Texas - 5.5%

 

City of San Antonio, Texas, Refunding RB, Series A,
5.25%, 2/01/31

 

 

2,025

 

 

2,136,725

 

 

 

Harris County Cultural Education Facilities Finance Corp.,
RB, Hospital, Texas Children’s Hospital Project,
5.50%, 10/01/39

 

 

2,750

 

 

2,832,528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,969,253

 

Virginia - 1.1%

 

Fairfax County IDA, Virginia, Refunding RB, Health Care,
Inova Health System, Series A, 5.50%, 5/15/35

 

 

899

 

 

944,308

 

 

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts - 46.2%

 

 

 

 

 

41,490,881

 

 

 

Total Long-Term Investments
(Cost - $143,365,628) - 163.6%

 

 

 

 

 

146,972,220

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

 

Shares

 

 

 

 

 

 

CMA Florida Municipal Money Fund, 0.00% (g)(h)

 

 

4

 

 

4

 

 

 

FFI Institutional Tax-Exempt Fund, 0.23% (g)(h)

 

 

3,500,000

 

 

3,500,000

 

 

 

Total Short-Term Securities
(Cost - $3,500,004) - 3.9%

 

 

 

 

 

3,500,004

 

 

 

Total Investments (Cost - $146,865,632*) - 167.5%

 

 

 

 

 

150,472,224

 

 

 

Liabilities in Excess of Other Assets - (4.6)%

 

 

 

 

 

(4,151,083

)

 

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable - (24.8)%

 

 

 

 

 

(22,245,533

)

 

 

Preferred Shares, at Redemption Value - (38.1)%

 

 

 

 

 

(34,252,053

)

 

 

 

 

 

 

 

 

 

Net Assets Applicable to Common Shares - 100.0%

 

 

 

 

$

89,823,555

 

 

 

 

 

 

 

 

5


 

BlackRock Municipal Income Investment Trust (BBF)

 

Schedule of Investments October 31, 2009 (Unaudited)

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of October 31, 2009, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

 

 

Aggregate cost

 

$

124,847,872

 

 

 

 

 

Gross unrealized appreciation

 

$

6,471,481

 

 

Gross unrealized depreciation

 

 

(3,075,893

)

 

 

 

 

Net unrealized appreciation

 

$

3,395,588

 

 

 

 

 

 

 

 

 

 

          (a)

When-issued security.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Counterparty

 

Market
Value

 

Unrealized
Appreciation
(Depreciation)

 

 

 

Citigroup Inc.

 

$

2,685,786

 

$

(17,977

)

 

JPMorgan Chase Bank NA

 

$

1,167,621

 

$

(18,424

)

 

Merrill Lynch & Co.

 

$

1,198,074

 

$

617

 

 

Morgan Stanley Co.

 

$

1,115,466

 

$

(8,289

)

 

 

 

 

 

(b)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

 

 

(c)

US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

 

 

 

(d)

Non-income producing security.

 

 

 

 

(e)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

 

 

 

(f)

Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

 

 

(g)

Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Net
Activity

 

Income

 

 

 

CMA Florida Municipal Money Fund

 

$

4

 

 

—

 

 

FFI Institutional Tax-Exempt Fund

 

$

1,797,094

 

$

2,353

 

 

 

 

 

 

 

 

(h)

Represents the current yield as of report date.

 

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

 

 

 

•

Level 1 - price quotations in active markets/exchanges for identical assets and liabilities.

 

 

 

 

 

 

 

 

•

Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

 

 

 

 

•

Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used 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. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report.

6


 

BlackRock Municipal Income Investment Trust (BBF)

 

Schedule of Investments October 31, 2009 (Unaudited)

 

 

 

 

 

 

The following table summarizes the inputs used as of October 31, 2009 in determining the fair valuation of the Trust’s investments:

 

 

 

 

 

 

 

 

Valuation Inputs

 

 

Investments in
Securities

 

 

 

 

 

 

Assets

 

 

 

 

 

Level 1 - Short-Term Securities

 

$

3,500,004

 

 

Level 2 - Long-Term Investments1

 

 

146,972,220

 

 

Level 3

 

 

—

 

 

 

Total

 

$

150,472,224

 

 

 

 

 

 

 

 

 1

See above Schedule of Investments for values in each state or political subdivision.

7

 

 

Item 2 – Controls and Procedures

 

 

2(a) –

The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

 

Item 3 – Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

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.

 

 

 

 

BlackRock Municipal Income Investment Trust

 

 

 

 

By:

/s/ Anne F. Ackerley

 

 

 

 

Anne F. Ackerley

 

 

Chief Executive Officer of

 

 

BlackRock Municipal Income Investment Trust

 

 

 

 

Date: December 18, 2009

 

 

 

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

 

 

 

 

By:

/s/ Anne F. Ackerley

 

 

 

 

Anne F. Ackerley

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock Municipal Income Investment Trust

 

 

 

 

Date: December 18, 2009

 

 

 

 

By:

/s/ Neal J. Andrews

 

 

 

 

Neal J. Andrews

 

 

Chief Financial Officer (principal financial officer) of

 

 

BlackRock Municipal Income Investment Trust

 

 

 

 

Date: December 18, 2009