<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0101</schemaVersion>

    <submissionType>EFFECT</submissionType>

    <act>33</act>

    <testOrLive>LIVE</testOrLive>

    <effectiveData>
        <finalEffectivenessDispDate>2010-06-24</finalEffectivenessDispDate>
        <finalEffectivenessDispTime>12:15:00</finalEffectivenessDispTime>
        <form>N-14</form>
        <filer>
            <cik>0000703112</cik>
            <entityName>FRANKLIN NEW YORK TAX FREE INCOME FUND</entityName>
            <fileNumber>333-167068</fileNumber>
            <seriesClassContractData>
                <merger>
                    <acquiringCik>0000703112</acquiringCik>
                    <acquiringEntityName>FRANKLIN NEW YORK TAX FREE INCOME FUND</acquiringEntityName>
                    <acquiringSeriesId>S000006862</acquiringSeriesId>
                    <acquiringSeriesName>FRANKLIN NEW YORK TAX-FREE INCOME FUND</acquiringSeriesName>
                    <acquiringClassContractId>C000018541</acquiringClassContractId>
                    <acquiringClassContractName>CLASS A</acquiringClassContractName>
                    <targetCik>0000798523</targetCik>
                    <targetEntityName>FRANKLIN NEW YORK TAX FREE TRUST</targetEntityName>
                    <targetSeriesId>S000006870</targetSeriesId>
                    <targetSeriesName>FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND</targetSeriesName>
                    <targetClassContractId>C000018600</targetClassContractId>
                    <targetClassContractName>CLASS A</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0000703112</acquiringCik>
                    <acquiringEntityName>FRANKLIN NEW YORK TAX FREE INCOME FUND</acquiringEntityName>
                    <acquiringSeriesId>S000006862</acquiringSeriesId>
                    <acquiringSeriesName>FRANKLIN NEW YORK TAX-FREE INCOME FUND</acquiringSeriesName>
                    <acquiringClassContractId>C000018543</acquiringClassContractId>
                    <acquiringClassContractName>CLASS C</acquiringClassContractName>
                    <targetCik>0000798523</targetCik>
                    <targetEntityName>FRANKLIN NEW YORK TAX FREE TRUST</targetEntityName>
                    <targetSeriesId>S000006870</targetSeriesId>
                    <targetSeriesName>FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND</targetSeriesName>
                    <targetClassContractId>C000018601</targetClassContractId>
                    <targetClassContractName>CLASS C</targetClassContractName>
                </merger>
            </seriesClassContractData>
        </filer>
    </effectiveData>
</edgarSubmission>
