N-Q 1 form.htm FORM NQ form
    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 811-3700 
 
The Dreyfus/Laurel Tax-Free Municipal Funds
(Exact name of Registrant as specified in charter)
 
 
c/o The Dreyfus Corporation
200 Park Avenue
New York, New York 10166
(Address of principal executive offices) (Zip code)
 
Mark N. Jacobs, Esq.
200 Park Avenue
New York, New York 10166
(Name and address of agent for service)
 
Registrant's telephone number, including area code: (212) 922-6000 
 
Date of fiscal year end:    06/30 
 
Date of reporting period:    09/30/06 

FORM N-Q

Item 1. Schedule of Investments.

STATEMENT OF INVESTMENTS         
Dreyfus Basic California Municipal Money Market Fund     
September 30, 2006 (Unaudited)             
 
    Coupon    Principal     
Short-Term Investments--98.7%    Rate (%)    Amount ($)    Value ($) 
California--97.6%             
ABAG Finance Authority for             
Non-Profit Corporations,             
Revenue (Grauer Foundation             
for Education Project) (LOC;             
Comerica Bank)    3.76    4,000,000 a    4,000,000 
California,             
CP (Liquidity Facility: Bank             
of Nova Scotia, KBC Bank,             
Lloyds TSB Bank, National             
Australia Bank, Royal Bank of             
Scotland and Societe Generale)    3.74    4,000,000    4,000,000 
California,             
CP (Liquidity Facility: Bank             
of Nova Scotia, KBC Bank,             
Lloyds TSB Bank, National             
Australia Bank, Royal Bank of             
Scotland and Societe Generale)    3.47    4,300,000    4,300,000 
California,             
CP (Liquidity Facility: Bank             
of Nova Scotia, KBC Bank,             
Lloyds TSB Bank, National             
Australia Bank, Royal Bank of             
Scotland and Societe Generale)    3.50    1,500,000    1,500,000 
California,             
GO Notes    4.25    150,000    150,076 
California,             
GO Notes (Various Purpose)    11.00    100,000    101,179 
California Community College             
Financing Authority, GO Notes,             
TRAN (Insured; FSA)    4.50    150,000    150,847 
California Department of Water             
Resources, Power Supply             
Revenue (LOC; Bank of America)    3.80    6,000,000 a    6,000,000 
California Department of Water             
Resources, Power Supply             
Revenue (LOC: California State             
Teachers Retirement System and             
The Bank of New York)    3.80    3,800,000 a    3,800,000 
California Educational Facilities             
Authority, Revenue, Refunding             
(Art Center College of Design)             
(LOC; Allied Irish Bank)    3.70    4,050,000 a    4,050,000 
California Health Facilities             
Financing Authority, Revenue             
(Kaiser Permanente)    3.64    1,000,000 a    1,000,000 
California Infrastructure and             

Economic Development Bank, IDR         
(Starter and Alternator             
Exchange, Inc. Project) (LOC;             
California State Teachers             
Retirement System)    3.79    1,100,000 a    1,100,000 
California Infrastucture and             
Economic Development Bank,             
Revenue (Nature Kist Snacks Project)         
(LOC; Wells Fargo Bank)    3.79    1,500,000 a    1,500,000 
California Pollution Control             
Financing Authority, PCR             
(Evergreen Oil Incorporated             
Project) (LOC; Bank of The             
West)    3.79    1,000,000 a    1,000,000 
California Pollution Control             
Financing Authority, PCR,             
Refunding (Pacific Gas and             
Electric Corporation) (LOC;             
JPMorgan Chase Bank)    3.82    11,600,000 a    11,600,000 
California Pollution Control             
Financing Authority, SWDR             
(Marborg Industries Project)             
(LOC; Wachovia Bank)    3.76    1,235,000 a    1,235,000 
California Pollution Control             
Financing Authority, SWDR             
(Marborg Industries Project)             
(LOC; Wachovia Bank)    3.76    1,500,000 a    1,500,000 
California Pollution Control             
Financing Authority, SWDR             
(Sierra Pacific Industries             
Project) (LOC; Wells Fargo             
Bank)    3.76    1,000,000 a    1,000,000 
California State University,             
Trustees, Housing System             
Revenue (Insured; FGIC)    4.75    100,000    100,068 
California Statewide Communities             
Development Authority, MFHR             
(Copeland Creek Apartments)             
(Liquidity Facility; Goldman             
Sachs Group Inc. and LOC;             
Goldman Sachs Group Inc.)    3.84    1,000,000 a,b    1,000,000 
California Statewide Communities             
Development Authority, MFHR             
(Vista Montana Apartments)             
(Liquidity Facility; Merrill Lynch             
Capital Services and             
LOC; Merrill Lynch)    3.84    2,460,000 a,b    2,460,000 
California Statewide Communities             
Development Authority,             
Multifamily Revenue (Varenna             
Assisted Living Apartments             
Project) (LOC; HSH Nordbank)    3.70    1,000,000 a    1,000,000 
California Statewide Communities             
Development Authority, Revenue         

(Kaiser Permanente)    3.68    3,200,000 a    3,200,000 
California Statewide Communities             
Development Authority,             
Revenue, Refunding (University             
Retirement Community at Davis             
Project) (Insured; Radian Bank             
and Liquidity Facility; Bank             
of America)    3.86    3,260,000 a    3,260,000 
Chaffey Community College             
District, GO Notes (Insured;             
MBIA and Liquidity Facility;             
JPMorgan Chase Bank)    3.77    3,000,000 a,b    3,000,000 
Conejo Valley Unified School             
District, GO Notes, TRAN    4.25    1,090,000    1,094,187 
Golden State Tobacco             
Securitization Corporation,             
Tobacco Settlement             
Asset-Backed Bonds (Liquidity             
Facility; Merrill Lynch)    3.80    1,160,000 a,b    1,160,000 
Goldman Sachs Pool Trust,             
Revenue (Liquidity Facility;             
Goldman Sachs Group and LOC;         
IXIS Corporate and Investment             
Bank)    3.84    4,000,000 a,b    4,000,000 
Hughson Unified School District,             
GO Notes (Insured; FSA)    10.00    120,000    126,073 
Long Beach,             
Harbor Revenue    5.50    420,000    424,563 
Long Beach,             
Harbor Revenue, Refunding             
(Insured; MBIA)    5.00    120,000    120,793 
Los Angeles,             
Wastewater System Revenue,             
Refunding (Insured; FGIC and             
Liquidity Facility; FGIC)    3.63    3,000,000 a    3,000,000 
Los Angeles Community             
Redevelopment Agency, Grand             
Central Square Qualified             
Redevelopment Revenue,             
Refunding (Insured; AMBAC)    3.75    100,000    99,955 
Los Angeles Industrial Development             
Authority, Empowerment Zone             
Facility Revenue (Calko Steel             
Incorporated Project) (LOC;             
Comerica Bank)    3.79    2,150,000 a    2,150,000 
North Orange County, Regional             
Occupational Program, COP             
(Educational Center Funding             
Program) (Insured; Assured             
Guaranty and Liquidity             
Facility; Dexia Credit Locale)    3.63    2,950,000 a    2,950,000 
Oakland,             
COP (Capital Equipment             
Project) (LOC; Landesbank             

Hessen-Thuringen Girozentrale)    3.68    2,400,000 a    2,400,000 
Orange County,             
Airport Revenue, Refunding             
(Insured; MBIA)    6    100,000    101,561 
Oxnard Financing Authority,             
Solid Waste Revenue, Refunding             
(Insured; AMBAC)    4.00    600,000    600,569 
Palomar Pomerado Health             
(Insured; AMBAC and Liquidity             
Facility; Merrill Lynch)    3.77    7,540,000 a,b    7,540,000 
Sacramento County,             
GO Notes, TRAN    4.50    130,000    130,784 
San Diego,             
Water Utility Fund Net System             
Revenue (Certificates of             
Undivided Interest) (Insured;             
FGIC and Liquidity Facility;             
Citibank NA)    3.76    5,000,000 a,b    5,000,000 
Solano County,             
COP (Capital Improvement             
Program) (Insured; AMBAC)    4.25    100,000    100,070 
Stockton Community Facilities             
District, Special Tax Revenue             
(Arch Road East Community             
Facilities District Number             
99-02) (LOC; Wells Fargo Bank)    3.63    700,000 a    700,000 
Union,             
MFHR, Refunding (Mission             
Sierra Apartments) (Insured; FNMA)    3.59    1,200,000 a    1,200,000 
University of California,             
College and University Revenue             
(Putters Program) (Insured;             
MBIA and Liquidity Facility;             
PB Finance Inc.)    3.78    995,000 a,b    995,000 
Vallejo,             
Water Revenue, COP (LOC; KBC             
Bank)    3.68    2,000,000 a    2,000,000 
West Covina Public Financing             
Authority, LR, Refunding             
(Public Facilities Project)             
(LOC; California State             
Teachers Retirement System)    3.67    2,695,000 a    2,695,000 
 
U.S. Related--1.1%             
Guam,             
LOR (Section 30) (Insured; FSA)    5.00    100,000    100,195 
Puerto Rico Commonwealth,             
Public Improvement (Insured;             
Assured Guaranty and Liquidity             
Facility; Morgan Stanley Bank)    3.77    1,000,000 a,b    1,000,000 
 
 
Total Investments (cost $101,695,871)        98.7%    101,695,920 
Cash and Receivables (Net)        1.3%    1,287,969 

a Securities payable on demand. Variable interest rate--subject to periodic change.
b Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in
transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2006, these securities
amounted to $26,155,000 or 25.4% of net assets.

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

Summary of Abbreviations         
ACA    American Capital Access    AGC    ACE Guaranty Corporation 
AGIC    Asset Guaranty Insurance Company    AMBAC    American Municipal Bond Assurance Corporation 
ARRN    Adjustable Rate Receipt Notes    BAN    Bond Anticipation Notes 
BIGI    Bond Investors Guaranty Insurance    BPA    Bond Purchase Agreement 
CGIC    Capital Guaranty Insurance Company    CIC    Continental Insurance Company 
CIFG    CDC Ixis Financial Guaranty    CMAC    Capital Market Assurance Corporation 
COP    Certificate of Participation    CP    Commercial Paper 
EDR    Economic Development Revenue    EIR    Environmental Improvement Revenue 
FGIC    Financial Guaranty Insurance Company    FHA    Federal Housing Administration 
FHLB    Federal Home Loan Bank    FHLMC    Federal Home Loan Mortgage Corporation 
FNMA    Federal National Mortgage Association    FSA    Financial Security Assurance 
GAN    Grant Anticipation Notes    GIC    Guaranteed Investment Contract 
GNMA    Government National Mortgage Association    GO    General Obligation 
HR    Hospital Revenue    IDB    Industrial Development Board 
IDC    Industrial Development Corporation    IDR    Industrial Development Revenue 
LOC    Letter of Credit    LOR    Limited Obligation Revenue 
LR    Lease Revenue    MBIA    Municipal Bond Investors Assurance Insurance 
MFHR    Multi-Family Housing Revenue    MFMR    Multi-Family C Mortgage Revenue 
PCR    Pollution Control Revenue    PILOT    Payment in Lieu of Taxes 
RAC    Revenue Anticipation Certificates    RAN    Revenue Anticipation Notes 
RAW    Revenue Anticipation Warrants    RRR    Resources Recovery Revenue 
SAAN    State Aid Anticipation Notes    SBPA    Standby Bond Purchase Agreement 
SFHR    Single Family Housing Revenue    SFMR    Single Family Mortgage Revenue 
SONYMA    State of New York Mortgage Agency    SWDR    Solid Waste Disposal Revenue 
TAN    Tax Anticipation Notes    TAW    Tax Anticipation Warrants 
TRAN    Tax and Revenue Anticipation Notes    XLCA    XL Capital Assurance 

STATEMENT OF INVESTMENTS         
Dreyfus Basic Massachusetts Municipal Money Market Fund     
September 30, 2006 (Unaudited)             
 
    Coupon    Principal     
Short-Term Investments--98.7%    Rate (%)    Amount ($)    Value ($) 
Ayer,             
GO Notes, BAN    4.50    1,150,600    1,156,651 
Canton Housing Authority,             
MFHR, Refunding (Canton             
Arboretum Apartments)             
(Insured; FNMA)    3.75    6,665,000 a    6,665,000 
Dennis-Yarmouth Regional School             
District, GO Notes, BAN    4.25    3,500,000    3,504,811 
Eclipse Funding Trust,             
Revenue (Insured; MBIA and             
Liquidity Facility; U.S. Bank)    3.76    6,000,000 a    6,000,000 
Hudson,             
GO Notes, BAN    4.00    2,335,307    2,335,399 
Lexington,             
GO Notes, BAN    4.25    2,165,000    2,169,234 
Marblehead,             
GO Notes, BAN    4.25    2,226,500    2,238,734 
Massachusetts,             
CP (LOC; Bank of Nova Scotia)    3.55    1,500,000    1,500,000 
Massachusetts,             
GO, Refunding (Liquidity             
Facility; Landesbank             
Hessen-Thuringen Girozentrale)    3.74    2,850,000 a    2,850,000 
Massachusetts Bay Transportation             
Authority, General             
Transportation Systems, GO             
Notes (Liquidity Facility;             
Westdeutsche Landesbank)    3.70    3,500,000 a    3,500,000 
Massachusetts Development Finance             
Agency, Revenue (Brandon             
Residential Treatment Center,             
Inc. Project) (LOC; SunTrust             
Bank)    3.74    1,025,000 a    1,025,000 
Massachusetts Development Finance             
Agency, Revenue (Dexter School             
Project) (Insured; MBIA and             
Liquidity Facility; Wachovia             
Bank)    3.77    1,000,000 a    1,000,000 
Massachusetts Development Finance             
Agency, Revenue (Holy Cross             
College Issue) (Insured; AMBAC             
and Liquidity Facility; Morgan             
Stanley Bank)    3.77    1,600,000 a,b    1,600,000 
Massachusetts Development Finance             
Agency, Revenue (Meadowbrook             
School Project) (LOC; Allied             
Irish Banks)    3.74    1,370,000 a    1,370,000 
Massachusetts Development Finance             
Agency, Revenue (WGBH             

Educational Foundation Issue)             
(Insured; AMBAC and Liquidity             
Facility; Royal Bank of Canada)    3.75    4,650,000 a    4,650,000 
Massachusetts Development Finance             
Agency, Revenue (Worcester             
Academy Issue) (LOC; Allied             
Irish Banks)    3.77    3,000,000 a    3,000,000 
Massachusetts Development Finance             
Agency, Revenue (YOU, Inc.)             
(LOC; PNC Bank)    3.70    3,200,000 a    3,200,000 
Massachusetts Development Finance             
Agency, SWDR (Newark Group             
Project) (LOC; JPMorgan Chase             
Bank)    3.75    1,000,000 a    1,000,000 
Massachusetts Health and             
Educational Facilities             
Authority, Health Care             
Facilities Revenue (Hallmark             
Health System Issue) (Insured;             
FSA and Liquidity Facility;             
Bank of America)    3.75    2,700,000 a    2,700,000 
Massachusetts Health and             
Educational Facilities             
Authority, Health Care             
Facilities Revenue (Partners             
Healthcare Systems) (Insured;             
FSA and Liquidity Facility:             
Bayerische Landesbank and             
JPMorgan Chase Bank)    3.75    2,500,000 a    2,500,000 
Massachusetts Health and             
Educational Facilities             
Authority, Health Care             
Facilities Revenue (Partners             
Healthcare Systems) (Insured;             
FSA and Liquidity Facility:             
Bayerische Landesbank and             
JPMorgan Chase Bank)    3.75    2,000,000 a    2,000,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Amherst             
College Issue)    3.58    1,000,000    1,000,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Capital Asset         
Program Issue) (LOC; Bank of             
America)    3.80    1,000,000 a    1,000,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Capital             
Asset Program Issue) (LOC;             
Citizens Bank of Massachusetts)    3.74    2,600,000 a    2,600,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Capital             
Asset Program Issue) (LOC;             

Royal Bank of Scotland)    3.74    4,520,000 a    4,520,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Emmanuel             
College Issue) (LOC; Allied             
Irish Banks)    3.70    4,450,000 a    4,450,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Peabody             
Essex Museum Issue) (LOC;             
Royal Bank of Scotland)    3.70    3,500,000 a    3,500,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Putters             
Program) (Insured; FGIC and             
Liquidity Facility; JPMorgan             
Chase Bank)    3.77    5,380,000 a    5,380,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (University             
of Massachusetts Issue) (LOC;             
Dexia Credit Locale)    3.70    2,500,000 a    2,500,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Wellesley             
College Issue)    3.80    4,675,000 a    4,675,000 
Massachusetts Health and             
Educational Facilities             
Authority, Revenue (Williams             
College Issue)    3.68    2,600,000 a    2,600,000 
Massachusetts Industrial Finance             
Agency, First Mortgage Revenue         
(Orchard Cove Inc.) (LOC; Bank             
of America)    3.76    1,000,000 a    1,000,000 
Massachusetts Port Authority,             
Revenue, CP (Liquidity             
Facility; Westdeutsche             
Landesbank)    3.58    5,000,000    5,000,000 
Massachusetts Port Authority,             
Revenue, CP (LOC; Westdeutsche         
Landesbank)    3.55    5,000,000    5,000,000 
Massachusetts School Building             
Authority, Dedicated Sales Tax             
Revenue (Insured; FSA and             
Liquidity Facility; Morgan             
Stanley Bank)    3.77    3,500,000 a,b    3,500,000 
Massachusetts Water Resources             
Authority, Multi-Modal             
Subordinated General Revenue,             
Refunding (Insured; FGIC and             
Liquidity Facility; Bayerische             
Landesbank)    3.75    4,200,000 a    4,200,000 
Massachussetts Water Resources             
Authority, Multi-Modal             
Subordinated General Revenue,             

Refunding (Insured; FGIC and         
Liquidity Facility; Dexia             
Credit Locale)    3.75    1,500,000 a    1,500,000 
Raynham,             
GO Notes, BAN    4.35    1,900,000    1,913,141 
Southborough,             
GO Notes, BAN    4.25    2,620,000    2,622,863 
Winchester,             
GO Notes, BAN    4.40    1,355,249    1,356,181 
Woburn,             
GO Notes, BAN    3.75    2,000,000    2,000,186 
 
 
Total Investments (cost $116,282,200)    98.7%    116,282,200 
Cash and Receivables (Net)        1.3%    1,527,426 
Net Assets        100.0%    117,809,626 

  a Securities payable on demand. Variable interest rate--subject to periodic change.
b Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in
transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2006, these
securities amounted to $5,100,000 or 4.3% of net assets.

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

Summary of Abbreviations         
ACA    American Capital Access    AGC    ACE Guaranty Corporation 
AGIC    Asset Guaranty Insurance Company    AMBAC    American Municipal Bond Assurance Corporation 
ARRN    Adjustable Rate Receipt Notes    BAN    Bond Anticipation Notes 
BIGI    Bond Investors Guaranty Insurance    BPA    Bond Purchase Agreement 
CGIC    Capital Guaranty Insurance Company    CIC    Continental Insurance Company 
CIFG    CDC Ixis Financial Guaranty    CMAC    Capital Market Assurance Corporation 
COP    Certificate of Participation    CP    Commercial Paper 
EDR    Economic Development Revenue    EIR    Environmental Improvement Revenue 
FGIC    Financial Guaranty Insurance Company    FHA    Federal Housing Administration 
FHLB    Federal Home Loan Bank    FHLMC    Federal Home Loan Mortgage Corporation 
FNMA    Federal National Mortgage Association    FSA    Financial Security Assurance 
GAN    Grant Anticipation Notes    GIC    Guaranteed Investment Contract 
GNMA    Government National Mortgage Association    GO    General Obligation 
HR    Hospital Revenue    IDB    Industrial Development Board 
IDC    Industrial Development Corporation    IDR    Industrial Development Revenue 
LOC    Letter of Credit    LOR    Limited Obligation Revenue 
LR    Lease Revenue    MBIA    Municipal Bond Investors Assurance Insurance 
MFHR    Multi-Family Housing Revenue    MFMR    Multi-Family C Mortgage Revenue 
PCR    Pollution Control Revenue    PILOT    Payment in Lieu of Taxes 
RAC    Revenue Anticipation Certificates    RAN    Revenue Anticipation Notes 
RAW    Revenue Anticipation Warrants    RRR    Resources Recovery Revenue 
SAAN    State Aid Anticipation Notes    SBPA    Standby Bond Purchase Agreement 
SFHR    Single Family Housing Revenue    SFMR    Single Family Mortgage Revenue 
SONYMA    State of New York Mortgage Agency    SWDR    Solid Waste Disposal Revenue 
TAN    Tax Anticipation Notes    TAW    Tax Anticipation Warrants 
TRAN    Tax and Revenue Anticipation Notes    XLCA    XL Capital Assurance 

STATEMENT OF INVESTMENTS             
Dreyfus Basic New York Municipal Money Market Fund         
September 30, 2006 (Unaudited)                 
 
    Coupon    Maturity    Principal     
Short-Term Investments--99.2%    Rate (%)    Date    Amount ($)    Value ($) 
New York--97.7%                 
ABN AMRO Munitops Certificate                 
Trust, Revenue, Refunding                 
(Cornell University)                 
(Liquidity Facility; ABN-AMRO)    3.77    10/7/06    6,710,000 a,b    6,710,000 
Albany Housing Authority,                 
Revenue (Nutgrove Garden                 
Apartments Project) (LOC;                 
Citizens Bank of Massachusetts)    3.77    10/7/06    1,600,000 a    1,600,000 
Albany Industrial Development                 
Agency, Civic Facility Revenue                 
(Albany Medical Center                 
Hospital Project) (LOC;                 
Citizens Bank of Rhode Island)    3.73    10/7/06    5,855,000 a    5,855,000 
Albany Industrial Development                 
Agency, Civic Facility Revenue                 
(Corning Preserve/Hudson                 
Riverfront Development                 
Project) (LOC; Key Bank)    3.77    10/7/06    1,360,000 a    1,360,000 
Auburn Industrial Development                 
Authority, IDR (Fat Tire LLC                 
Project) (LOC; Citizens Bank                 
of Pennsylvania)    3.89    10/7/06    675,000 a    675,000 
Binghamton,                 
GO Notes, BAN    4.00    2/2/07    4,400,000    4,406,270 
Brewster,                 
GO Notes, BAN    4.80    5/18/07    2,700,000    2,710,723 
Burnt Hills-Ballston Lake Central                 
School District, GO Notes, TAN    4.50    7/6/07    1,500,000    1,507,127 
Cohoes Industrial Development                 
Agency, Civic Facility Revenue                 
(Columbia Crest Senior Housing                 
Project) (LOC; Key Bank)    3.77    10/7/06    2,780,000 a    2,780,000 
Dutchess County Industrial                 
Development Agency, Civic                 
Facility Revenue (Marist                 
College Civic Facility) (LOC;                 
Key Bank)    3.73    10/7/06    3,900,000 a    3,900,000 
Dutchess County Industrial                 
Development Agency, Civic                 
Facility Revenue (Marist                 
College Civic Facility) (LOC;                 
The Bank of New York)    3.73    10/7/06    1,900,000 a    1,900,000 
East Syracuse-Minoa Central School                 
District, GO Notes, BAN    4.65    7/20/07    1,220,000    1,227,484 
Hastings,                 
GO Notes, BAN    4.50    10/26/06    3,800,000    3,801,656 

Metropolitan Transportation                 
Authority, Dedicated Tax Fund,                 
Refunding (Insured; XLCA and                 
Liquidity Facility; Citibank                 
NA)    3.74    10/7/06    8,900,000 a    8,900,000 
Metropolitan Transportation                 
Authority, Transportation                 
Revenue (Insured; AMBAC and                 
Liquidity Facility; PB Finance                 
Inc.)    3.78    10/7/06    6,800,000 a,b    6,800,000 
Metropolitan Transportation                 
Authority, Transportation                 
Revenue (Insured; AMBAC and                 
Liquidity Facility; The Bank                 
of New York)    3.77    10/7/06    5,662,500 a,b    5,662,500 
Monroe County Industrial                 
Development Agency, Civic                 
Facility Revenue (YMCA of                 
Greater Rochester Project)                 
(LOC; M&T Bank)    3.79    10/7/06    2,500,000 a    2,500,000 
Monroe-Woodbury Central School                 
District, GO Notes, BAN    4.50    11/17/06    3,891,200    3,894,286 
Nassau County Industrial                 
Development Agency, Civic                 
Facility Revenue (North Shore                 
Hebrew Academy High School                 
Project) (LOC; Comerica Bank)    3.78    10/7/06    6,650,000 a    6,650,000 
New York City                 
(Putters Program) (Insured;                 
XLCA and Liquidity Facility;                 
JPMorgan Chase Bank)    3.78    10/7/06    2,955,000 a,b    2,955,000 
New York City Housing Development             
Corporation, Multi-Family                 
Rental Housing Revenue (West                 
89th Street Development)                 
(Insured; FNMA)    3.75    10/7/06    13,000,000 a    13,000,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (Birch Wathen                 
Lenox School Project) (LOC;                 
Allied Irish Bank)    3.78    10/7/06    2,625,000 a    2,625,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (Ethical                 
Culture Fieldston School Project)             
(Insured; XLCA and Liquidity                 
Facility; Dexia Credit Locale)    3.74    10/7/06    4,170,000 a    4,170,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (Hewitt                 
School Project) (LOC; Allied                 
Irish Bank)    3.78    10/7/06    1,570,000 a    1,570,000 
New York City Industrial                 
Development Agency, Civic                 

Facility Revenue (Sephardic                 
Community Youth Center, Inc.                 
Project) (LOC; M&T Bank)    3.79    10/7/06    5,000,000 a    5,000,000 
New York City Industrial                 
Development Agency, Civic                 
Facilty Revenue                 
(Spence-Chapin, Services to                 
Families and Children Project)                 
(LOC; Allied Irish Bank)    3.78    10/7/06    4,000,000 a    4,000,000 
New York City Industrial                 
Development Agency, Liberty                 
Revenue (FC Hanson Office                 
Associates LLC Project) (LOC;                 
Lloyds TSB Bank PLC)    3.73    10/7/06    9,000,000 a    9,000,000 
New York City Municipal Water                 
Finance Authority, CP                 
(Liquidity Facility: Dexia                 
Credit Locale and JPMorgan                 
Chase Bank)    3.52    11/9/06    5,300,000    5,300,000 
New York City Municipal Water                 
Finance Authority, Water and                 
Sewer System Revenue                 
(Liquidity Facility; Dexia                 
Credit Locale)    3.74    10/7/06    12,000,000 a    12,000,000 
New York City Transitional Finance                 
Authority, Future Tax Secured                 
Revenue (Liquidity Facility;                 
Landesbank Hessen-Thuringen                 
Girozentrale)    3.87    10/1/06    1,350,000 a    1,350,000 
New York City Transitional Finance                 
Authority, Revenue (New York                 
City Recovery) (Liquidity Facility;             
Bayerische Landesbank)    3.87    10/1/06    2,510,000 a    2,510,000 
New York City Transitional Finance                 
Authority, Revenue (New York                 
City Recovery) (Liquidity                 
Facility; Royal Bank of Canada)    3.87    10/1/06    1,250,000 a    1,250,000 
New York City Transitional Finance                 
Authority, Revenue (New York                 
City Recovery) (LOC;                 
Landesbank Hessen-Thuringen                 
Girozentrale)    3.72    10/7/06    11,900,000 a    11,900,000 
New York Counties Tobacco Trust                 
IV, Tobacco Settlement                 
Pass-Through Bonds (Liquidity                 
Facility; Merrill Lynch)    3.80    10/7/06    18,080,000 a,b    18,080,000 
New York State Dormitory                 
Authority, Revenue (Park Ridge                 
Hospital Inc.) (LOC; JPMorgan                 
Chase Bank)    3.74    10/7/06    4,500,000 a    4,500,000 
New York State Energy Research and             
Development Authority, Revenue             
(Consolidated Edison Company                 
of New York, Inc. Project)                 

(LOC; Citibank NA)    3.75    10/7/06    9,700,000 a    9,700,000 
New York State Housing Finance                 
Agency, Housing Revenue (Rip                 
Van Winkle House) (Insured;                 
FHLMC and Liquidity Facility;                 
FHLMC)    3.79    10/7/06    4,700,000 a    4,700,000 
New York State Housing Finance                 
Agency, Revenue (Historic                 
Front Street) (LOC; The Bank                 
of New York)    3.71    10/7/06    5,000,000 a    5,000,000 
New York State Housing Finance                 
Agency, Revenue (Hospital for                 
Special Surgery Staff Housing)                 
(LOC; JPMorgan Chase Bank)    3.73    10/7/06    7,400,000 a    7,400,000 
New York State Housing Finance                 
Agency, Revenue (Worth Street)                 
(LOC; FNMA)    3.75    10/7/06    12,000,000 a    12,000,000 
New York State Urban Development                 
Corporation, Correctional and                 
Youth Facilities Service Contract                 
Revenue (Liquidity Facility;                 
Merrill Lynch Capital Services and             
LOC; Merrill Lynch)    3.79    10/7/06    7,375,000 a,b    7,375,000 
Newburgh Industrial Development                 
Agency, Civic Facility Revenue                 
(Community Development                 
Properties Dubois Street II,                 
Inc. Project) (LOC; Key Bank)    3.77    10/7/06    6,000,000 a    6,000,000 
Onondaga County Industrial                 
Development Agency, Civic                 
Facility Revenue (Onondaga                 
Community College Housing                 
Development Corporation                 
Project) (LOC; Citizens Bank                 
of Massachusetts)    3.73    10/7/06    3,825,000 a    3,825,000 
Otsego County Industrial                 
Development Agency, Civic                 
Facility Revenue (Noonan                 
Community Service Corporation                 
Project) (LOC; FHLB)    3.74    10/7/06    2,090,000 a    2,090,000 
Patchogue-Medford Union Free                 
School District, GO Notes, TAN    4.50    6/29/07    5,400,000    5,424,708 
Pearl River Union Free School                 
District, GO Notes, TAN    4.50    6/28/07    2,300,000    2,310,305 
Putnam County Industrial                 
Development Agency, Civic                 
Facility Revenue (United                 
Cerebral Palsy of Putnam and                 
Southern Dutchess Project)                 
(LOC; Commerce Bank N.A.)    3.79    10/7/06    8,025,000 a    8,025,000 
Rensselaer County Industrial                 
Development Agency, Civic                 
Facility Revenue (Rensselaer                 
Polytechic Institute Project)    3.80    10/7/06    3,200,000 a    3,200,000 

Saint Lawrence County Industrial                 
Development Agency, Civic                 
Facility Revenue                 
(Canton-Potsdam Hospital                 
Project) (LOC; Key Bank)    3.77    10/7/06    5,382,000 a    5,382,000 
Shenendehowa Central School                 
District, GO Notes, BAN    4.50    6/29/07    3,000,000    3,006,630 
Spencerport,                 
GO Notes, BAN    4.50    3/1/07    1,495,000    1,500,975 
Syracuse,                 
GO Notes, RAN (LOC; Key Bank)    4.13    10/30/06    4,600,000    4,601,816 
Tompkins County Industrial                 
Development Agency, Civic                 
Facility Revenue (Tompkins                 
Cortland Community College                 
Foundation, Inc. Project)                 
(LOC; Citizens Bank of                 
Massachusetts)    3.76    10/7/06    3,400,000 a    3,400,000 
Tompkins County Industrial                 
Development Agency, Civic                 
Facility Revenue (Tompkins                 
Cortland Community College                 
Foundation, Inc. Project)                 
(LOC; HSBC Bank USA)    3.76    10/7/06    3,775,000 a    3,775,000 
TSASC Inc. of New York,                 
Tobacco Settlement                 
Asset-Backed Bonds (Liquidity                 
Facility; Merrill Lynch)    3.81    10/7/06    4,790,000 a,b    4,790,000 
Westchester County Industrial                 
Development Agency, Civic                 
Facility Revenue (Mercy                 
College Project) (LOC; Key                 
Bank)    3.77    10/7/06    3,100,000 a    3,100,000 
Westchester County Industrial                 
Development Agency, Civic                 
Facility Revenue (Northern                 
Westchester Hospital                 
Association Civic Facility)                 
(LOC; Commerce Bank)    3.77    10/7/06    7,000,000 a    7,000,000 
Westchester Tobacco Asset                 
Securitization Corporation,                 
Tobacco Settlement                 
Asset-Backed Bonds (Liquidity                 
Facility; Merrill Lynch Capital Services             
and LOC; Merrill Lynch)    3.80    10/7/06    8,030,000 a,b    8,030,000 
 
U.S. Related--1.5%                 
Puerto Rico Industrial Tourist                 
Educational Medical and                 
Environmental Control                 
Facilities Financing                 
Authority, Environmental                 
Control Facilities Revenue                 
(Bristol-Myers Squibb Company                 

Project)    3.82    10/7/06    4,400,000 a    4,400,000 
 
 
Total Investments (cost $298,086,480)            99.2%    298,086,480 
Cash and Receivables (Net)            .8%    2,286,192 
Net Assets            100.0%    300,372,672 

  a Securities payable on demand. Variable interest rate--subject to periodic change.
b Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in
transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2006, these securities
amounted to $60,402,500 or 20.1% of net assets.

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

Summary of Abbreviations         
ACA    American Capital Access    AGC    ACE Guaranty Corporation 
AGIC    Asset Guaranty Insurance Company    AMBAC    American Municipal Bond Assurance Corporation 
ARRN    Adjustable Rate Receipt Notes    BAN    Bond Anticipation Notes 
BIGI    Bond Investors Guaranty Insurance    BPA    Bond Purchase Agreement 
CGIC    Capital Guaranty Insurance Company    CIC    Continental Insurance Company 
CIFG    CDC Ixis Financial Guaranty    CMAC    Capital Market Assurance Corporation 
COP    Certificate of Participation    CP    Commercial Paper 
EDR    Economic Development Revenue    EIR    Environmental Improvement Revenue 
FGIC    Financial Guaranty Insurance Company    FHA    Federal Housing Administration 
FHLB    Federal Home Loan Bank    FHLMC    Federal Home Loan Mortgage Corporation 
FNMA    Federal National Mortgage Association    FSA    Financial Security Assurance 
GAN    Grant Anticipation Notes    GIC    Guaranteed Investment Contract 
GNMA    Government National Mortgage Association    GO    General Obligation 
HR    Hospital Revenue    IDB    Industrial Development Board 
IDC    Industrial Development Corporation    IDR    Industrial Development Revenue 
LOC    Letter of Credit    LOR    Limited Obligation Revenue 
LR    Lease Revenue    MBIA    Municipal Bond Investors Assurance Insurance 
MFHR    Multi-Family Housing Revenue    MFMR    Multi-Family C Mortgage Revenue 
PCR    Pollution Control Revenue    PILOT    Payment in Lieu of Taxes 
RAC    Revenue Anticipation Certificates    RAN    Revenue Anticipation Notes 
RAW    Revenue Anticipation Warrants    RRR    Resources Recovery Revenue 
SAAN    State Aid Anticipation Notes    SBPA    Standby Bond Purchase Agreement 
SFHR    Single Family Housing Revenue    SFMR    Single Family Mortgage Revenue 
SONYMA    State of New York Mortgage Agency    SWDR    Solid Waste Disposal Revenue 
TAN    Tax Anticipation Notes    TAW    Tax Anticipation Warrants 
TRAN    Tax and Revenue Anticipation Notes    XLCA    XL Capital Assurance 

Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

SIGNATURES

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.

The Dreyfus/Laurel Tax-Free Municipal Funds

By:    /s/ Stephen E. Canter 
    Stephen E. Canter 
    President 
Date:    November 21, 2006 

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/ Stephen E. Canter 
    Stephen E. Canter 
    Chief Executive Officer 
Date:    November 21, 2006 
 
 
By:    /s/ James Windels 
    James Windels
    Chief Financial Officer 
Date:    November 21, 2006 

EXHIBIT INDEX

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)