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: 04/30/2010

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments April 30, 2010 (Unaudited)

BlackRock Municipal Income Investment Trust (BBF)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Arizona — 0.7%

 

 

 

 

 

 

 

Pima County IDA, Refunding IDRB,
Tucson Electric Power, 5.75%,
9/01/29

 

$

625

 

$

635,988

 

California — 15.4%

 

 

 

 

 

 

 

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

 

 

1,355

 

 

1,475,270

 

California Health Facilities Financing
Authority, Refunding RB, Series A:

 

 

 

 

 

 

 

Catholic Healthcare West, 6.00%,
7/01/39

 

 

890

 

 

954,071

 

St. Joseph Health System, 5.75%,
7/01/39

 

 

1,375

 

 

1,429,491

 

California State Public Works Board, RB:

 

 

 

 

 

 

 

Department of General Services,
Buildings 8 & 9, Series A, 6.25%,
4/01/34

 

 

2,075

 

 

2,196,927

 

Various Capital Projects,
Sub-Series I-1, 6.38%, 11/01/34

 

 

645

 

 

691,021

 

Los Angeles Department of Airports,
Refunding RB, Senior, Los Angeles
International Airport, Series A, 5.00%,
5/15/35

 

 

2,725

 

 

2,791,981

 

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

 

 

1,450

 

 

1,553,240

 

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

 

 

1,600

 

 

1,690,768

 

State of California, GO, Various Purpose,
6.00%, 3/01/33

 

 

1,275

 

 

1,403,405

 

 

 

 

 

 

 

 

 

 

 

 

14,186,174

 

Colorado — 3.3%

 

 

 

 

 

 

 

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

 

 

1,810

 

 

1,873,133

 

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

 

 

1,095

 

 

1,161,248

 

 

 

 

 

 

 

 

 

 

 

 

3,034,381

 

District of Columbia — 1.2%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

1,069,390

 

Florida — 7.1%

 

 

 

 

 

 

 

County of St. John’s Florida, RB, CAB
(AMBAC), 5.34%, 6/01/30 (a)

 

 

3,945

 

 

1,313,724

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Florida (concluded)

 

 

 

 

 

 

 

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

 

$

629

 

$

639,741

 

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

 

 

1,230

 

 

1,419,531

 

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

 

 

500

 

 

507,600

 

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

 

 

1,500

 

 

599,700

 

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

 

 

1,795

 

 

1,533,576

 

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

 

 

1,000

 

 

573,450

 

 

 

 

 

 

 

 

 

 

 

 

6,587,322

 

Georgia — 6.4%

 

 

 

 

 

 

 

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

 

 

2,450

 

 

2,578,674

 

Municipal Electric Authority of Georgia,
Refunding RB, Project One,
Sub-Series D, 6.00%, 1/01/23

 

 

2,900

 

 

3,289,818

 

 

 

 

 

 

 

 

 

 

 

 

5,868,492

 

Hawaii — 2.7%

 

 

 

 

 

 

 

State of Hawaii, Refunding RB, Series A,
5.00%, 7/01/34

 

 

2,500

 

 

2,501,800

 

Illinois — 5.8%

 

 

 

 

 

 

 

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

 

 

1,600

 

 

1,821,920

 

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

 

 

1,900

 

 

2,072,121

 

State of Illinois, RB, Build Illinois,
Series B, 5.25%, 6/15/34

 

 

1,375

 

 

1,432,585

 

 

 

 

 

 

 

 

 

 

 

 

5,326,626

 

Indiana — 2.6%

 

 

 

 

 

 

 

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

 

 

2,210

 

 

2,387,971

 

 

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.

CAB

Capital Appreciation Bonds

ERB

Education Revenue Bonds

GO

General Obligation Bonds

IDA

Industrial Development Authority

IDRB

Industrial Development Revenue Bonds

ISD

Independent School District

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

S/F

Single-Family

 

 

 

BLACKROCK MUNICIPAL INCOME INVESTMENT TRUST

APRIL 30, 2010

1


 

 

 

 

Schedule of Investments (continued)

BlackRock Municipal Income Investment Trust (BBF)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Kansas — 1.8%

 

 

 

 

 

 

 

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

 

$

1,600

 

$

1,691,168

 

Kentucky — 4.2%

 

 

 

 

 

 

 

Kentucky Economic Development
Finance Authority, Refunding RB,
Owensboro Medical Health System,
Series A, 6.38%, 6/01/40

 

 

660

 

 

678,480

 

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

 

 

1,500

 

 

1,648,305

 

Louisville/Jefferson County Metropolitan
Government, Refunding RB, Jewish
Hospital & St. Mary’s HealthCare,
6.13%, 2/01/37

 

 

1,450

 

 

1,505,506

 

 

 

 

 

 

 

 

 

 

 

 

3,832,291

 

Massachusetts — 2.1%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

1,085,140

 

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

 

 

750

 

 

811,365

 

 

 

 

 

 

 

 

 

 

 

 

1,896,505

 

Michigan — 3.2%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

1,083,320

 

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

 

 

715

 

 

704,983

 

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

 

 

995

 

 

1,174,428

 

 

 

 

 

 

 

 

 

 

 

 

2,962,731

 

Nebraska — 0.3%

 

 

 

 

 

 

 

Lancaster County Hospital Authority
No. 1, RB, Immanuel Obligation
Group, 5.63%, 1/01/40

 

 

315

 

 

315,788

 

Nevada — 9.9%

 

 

 

 

 

 

 

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

 

 

1,600

 

 

1,767,232

 

County of Clark Nevada, GO, Refunding,
Transportation, Series A, 5.00%,
12/01/29

 

 

2,000

 

 

2,073,940

 

County of Clark Nevada, RB:

 

 

 

 

 

 

 

Motor Vehicle Fuel Tax, 5.00%,
7/01/28

 

 

2,000

 

 

2,059,180

 

Series B, 5.75%, 7/01/42

 

 

3,075

 

 

3,257,132

 

 

 

 

 

 

 

 

 

 

 

 

9,157,484

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey — 2.8%

 

 

 

 

 

 

 

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

 

$

1,165

 

$

1,200,928

 

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

 

 

1,295

 

 

1,421,042

 

 

 

 

 

 

 

 

 

 

 

 

2,621,970

 

New York — 10.3%

 

 

 

 

 

 

 

City of Troy New York, Refunding RB,
Rensselaer Polytechnic, Series A,
5.13%, 9/01/40

 

 

2,880

 

 

2,941,258

 

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

 

 

1,055

 

 

1,157,757

 

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

 

 

1,500

 

 

1,592,430

 

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

 

 

2,000

 

 

2,160,300

 

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

 

 

1,510

 

 

1,640,736

 

 

 

 

 

 

 

 

 

 

 

 

9,492,481

 

North Carolina — 1.7%

 

 

 

 

 

 

 

City of Charlotte North Carolina,
Refunding RB, Series A, 5.50%,
7/01/34

 

 

180

 

 

191,372

 

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

 

 

450

 

 

466,961

 

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

 

 

855

 

 

868,064

 

 

 

 

 

 

 

 

 

 

 

 

1,526,397

 

Pennsylvania — 3.9%

 

 

 

 

 

 

 

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

 

 

500

 

 

540,485

 

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

 

 

2,945

 

 

3,043,717

 

 

 

 

 

 

 

 

 

 

 

 

3,584,202

 

Puerto Rico — 3.0%

 

 

 

 

 

 

 

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

 

 

2,605

 

 

2,761,951

 

Texas — 12.2%

 

 

 

 

 

 

 

City of Houston Texas, RB, Senior Lien,
Series A, 5.50%, 7/01/39

 

 

595

 

 

634,002

 

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

 

 

890

 

 

964,805

 

 

 

 

2

BLACKROCK MUNICIPAL INCOME INVESTMENT TRUST

APRIL 30, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock Municipal Income Investment Trust (BBF)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Texas (concluded)

 

 

 

 

 

 

 

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

 

$

500

 

$

562,260

 

Lower Colorado River Authority, RB:

 

 

 

 

 

 

 

5.75%, 5/15/28

 

 

810

 

 

861,200

 

5.50%, 5/15/33

 

 

2,000

 

 

2,134,920

 

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

 

 

1,250

 

 

1,352,662

 

Tarrant County Cultural Education
Facilities Finance Corp., RB,
Ascension Health Senior Credit Group,
5.00%, 11/15/29

 

 

1,635

 

 

1,676,120

 

Texas Private Activity Bond Surface
Transportation Corp., RB, Senior Lien,
Note Mobility, 6.88%, 12/31/39

 

 

2,980

 

 

3,113,266

 

 

 

 

 

 

 

 

 

 

 

 

11,299,235

 

Utah — 1.3%

 

 

 

 

 

 

 

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

 

 

1,205

 

 

1,225,521

 

Virginia — 1.2%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

1,155,730

 

Wisconsin — 1.9%

 

 

 

 

 

 

 

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

 

 

1,675

 

 

1,715,669

 

Wyoming — 1.4%

 

 

 

 

 

 

 

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

 

 

1,235

 

 

1,305,691

 

Total Municipal Bonds – 106.4%

 

 

 

 

 

98,142,958

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

 

 

 

 

California — 14.2%

 

 

 

 

 

 

 

California Educational Facilities
Authority, RB, University of Southern
California, Series A, 5.25%, 10/01/18

 

 

1,995

 

 

2,139,278

 

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

 

 

3,898

 

 

4,371,184

 

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

 

 

400

 

 

407,040

 

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

 

 

4,215

 

 

4,524,212

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

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

 

$

1,500

 

$

1,684,185

 

 

 

 

 

 

 

 

 

 

 

 

13,125,899

 

District of Columbia — 3.8%

 

 

 

 

 

 

 

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

 

 

1,395

 

 

1,566,111

 

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

 

 

1,799

 

 

1,941,959

 

 

 

 

 

 

 

 

 

 

 

 

3,508,070

 

Florida — 8.3%

 

 

 

 

 

 

 

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

 

 

7,490

 

 

7,642,571

 

Illinois — 3.5%

 

 

 

 

 

 

 

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

 

 

2,800

 

 

3,233,076

 

Nevada — 5.4%

 

 

 

 

 

 

 

Clark County Water Reclamation
District, GO:

 

 

 

 

 

 

 

Limited Tax, 6.00%, 7/01/38

 

 

2,500

 

 

2,799,125

 

Series B, 5.50%, 7/01/29

 

 

1,994

 

 

2,188,344

 

 

 

 

 

 

 

 

 

 

 

 

4,987,469

 

New Hampshire — 1.3%

 

 

 

 

 

 

 

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

 

 

1,094

 

 

1,188,272

 

New York — 4.1%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Fiscal 2009, Series A, 5.75%,
6/15/40

 

 

1,410

 

 

1,594,976

 

Series FF-2, 5.50%, 6/15/40

 

 

1,994

 

 

2,218,026

 

 

 

 

 

 

 

 

 

 

 

 

3,813,002

 

Ohio — 1.7%

 

 

 

 

 

 

 

County of Allen Ohio, JPMorgan Chase
Refunding RB, Series 3692Z, 5.03%,
5/07/10

 

 

1,560

 

 

1,601,214

 

South Carolina — 2.1%

 

 

 

 

 

 

 

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

 

 

1,755

 

 

1,911,265

 

Texas — 5.5%

 

 

 

 

 

 

 

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

 

 

2,025

 

 

2,206,668

 

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

 

 

2,750

 

 

2,860,550

 

 

 

 

 

 

 

 

 

 

 

 

5,067,218

 

 

 

 

BLACKROCK MUNICIPAL INCOME INVESTMENT TRUST

APRIL 30, 2010

3


 

 

 

 

Schedule of Investments (continued)

BlackRock Municipal Income Investment Trust (BBF)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

Par
(000)

 

Value

 

Virginia — 1.0%

 

 

 

 

 

 

 

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

 

$

899

 

$

952,562

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 50.9%

 

 

 

 

 

47,030,618

 

Total Long-Term Investments
(Cost – $138,023,826) – 157.3%

 

 

 

 

 

145,173,576

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.25% (f)(g)

 

 

4,036,536

 

 

4,036,536

 

Total Short-Term Securities
(Cost – $4,036,536) – 4.4%

 

 

 

 

 

4,036,536

 

Total Investments
(Cost – $142,060,362*) – 161.7%

 

 

 

 

 

149,210,112

 

Other Assets Less Liabilities – 2.0%

 

 

 

 

 

1,794,750

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (26.6)%

 

 

 

 

 

(24,500,061

)

Preferred Shares, at Redemption Value – (37.1)%

 

 

 

 

 

(34,252,215

)

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

92,252,586

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of April 30, 2010, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

 

 

 

Aggregate cost

 

 

 

 

$

117,778,971

 

 

 

 

 

 

Gross unrealized appreciation

 

 

 

 

$

8,084,259

 

Gross unrealized depreciation

 

 

 

 

 

(1,916,380

)

 

 

 

 

 

Net unrealized appreciation

 

 

 

 

$

6,167,879

 

 

 

 

 

 

 

 

(a)

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

 

 

(b)

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.

 

 

(c)

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

 

 

(d)

Non-income producing security.

 

 

(e)

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.

 

 

(f)

Represents the current yield as of report date.

 

 

(g)

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares Held
at
July 31,
2009

 

Net
Activity

 

Shares Held
at
April 30,
2010

 

Income

 

FFI

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax-Exempt

 

 

 

 

 

 

 

 

 

 

 

 

 

Fund

 

 

1,702,906

 

 

2,333,630

 

 

4,036,536

 

$

7,666

 

 

 

 

4

BLACKROCK MUNICIPAL INCOME INVESTMENT TRUST

APRIL 30, 2010


 

 

 

 

Schedule of Investments (concluded)

BlackRock Municipal Income Investment Trust (BBF)

 

 

 

•

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 methodologies 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 semi-annual report.

The following table summarizes the inputs used as of April 30, 2010 in determining the fair valuation of the Trust’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments1

 

 

—

 

$

145,173,576

 

 

—

 

$

145,173,576

 

Short-Term

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities

 

$

4,036,536

 

 

—

 

 

—

 

 

4,036,536

 

Total

 

$

4,036,536

 

$

145,173,576

 

 

—

 

$

149,210,112

 

 

 

 

 

 

 

1

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

 

 

 

BLACKROCK MUNICIPAL INCOME INVESTMENT TRUST

APRIL 30, 2010

5

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: June 28, 2010
   
  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: June 28, 2010
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Municipal Income Investment Trust
     
  Date: June 28, 2010