BNY MELLON INVESTMENT ADVISER, INC.
BNY MELLON INVESTMENT ADVISER, INC.
000 Xxxxxxxxx Xxxxxx
New York, New York 10286
August 18, 2022
BNY Mellon State Municipal Bond Funds
- BNY Mellon Connecticut Fund
000 Xxxxxxxxx Xxxxxx
New York, New York 10286
Re: Expense Limitation
To Whom it May Concern:
Effective September 1, 2022, BNY Mellon Investment Adviser, Inc. ("BNYM Investment Adviser"), intending to be legally bound, hereby confirms its agreement in respect of BNY Mellon Connecticut Fund (the "Fund"), a series of BNY Mellon State Municipal Bond Funds (the "Trust"), as follows:
Until September 1, 2023, BNYM Investment Adviser, has contractually agreed to waive receipt of a portion of its management fees, in the amount of .10% of the value of the fund's average daily net assets until September 1, 2023. On or after September 1, 2023, BNYM Investment Adviser may terminate this waiver agreement at any time. In addition, BNYM Investment Adviser has contractually agreed, until September 1, 2023, to assume the direct expenses of Class Y so that the direct expenses of Class Y do not exceed the direct expenses of Class I. On or after September 1, 2023, BNYM Investment Adviser may terminate this expense limitation agreement for Class Y at any time.
This Agreement may only be amended by agreement of the Trust, on behalf of the Fund, upon the approval of the Board of Trustees of the Trust and BNYM Investment Adviser to lower the net amounts shown and may only be terminated prior to September 1, 2023, in the event of termination of the Management Agreement between BNYM Investment Adviser and the Trust with respect to the Fund.
BNY MELLON INVESTMENT ADVISER, INC.
By: /s/ Xxxxx Xxxxxxx
Xxxxx Xxxxxxx
Secretary
Accepted and Agreed To:
BNY MELLON STATE MUNICIPAL BOND FUNDS,
On Behalf of BNY Mellon Connecticut Fund
By: /s/ Xxxxx Xxxxxxx
Xxxxx Xxxxxxx
| Treasurer |
