N-Q 1 form-92822810.htm FORM N-Q form-92822810.htm - Generated by SEC Publisher for SEC Filing

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 811-3757

DREYFUS PREMIER CALIFORNIA AMT-FREE MUNICIPAL BOND FUND, INC.
- Dreyfus California AMT-Free Municipal Bond Fund
(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)

Michael A. Rosenberg, 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: 05/31  
Date of reporting period: 02/28/10  


FORM N-Q

Item 1. Schedule of Investments.

-2-


STATEMENT OF INVESTMENTS
Dreyfus California AMT-Free Municipal Bond Fund
February 28, 2010 (Unaudited)

Long-Term Municipal Coupon Maturity Principal  
Investments--98.8% Rate (%) Date Amount ($) Value ($)
California--90.1%        
ABAG Finance Authority for        
Nonprofit Corporations, COP        
(Episcopal Homes Foundation) 5.25 7/1/10 3,500,000 3,527,125
ABAG Finance Authority for        
Nonprofit Corporations,        
Insured Revenue (Sansum-Santa        
Barbara Medical Foundation        
Clinic) 5.50 4/1/21 3,500,000 3,532,725
ABAG Finance Authority for        
Nonprofit Corporations,        
Revenue (San Diego Hospital        
Association) 5.38 3/1/21 4,000,000 4,074,280
Alameda Corridor Transportation        
Authority, Revenue (Insured;        
National Public Finance        
Guarantee Corp.) 5.13 10/1/16 2,000,000 2,023,300
Alameda County,        
COP (Insured; National Public        
Finance Guarantee Corp.) 5.38 12/1/13 4,500,000 4,743,045
Alameda County,        
COP (Insured; National Public        
Finance Guarantee Corp.) 5.38 12/1/14 5,500,000 5,769,830
Bay Area Toll Authority,        
San Francisco Bay Area Toll        
Bridge Revenue 5.25 4/1/24 17,580,000 19,417,637
Bay Area Toll Authority,        
San Francisco Bay Area Toll        
Bridge Revenue 5.00 4/1/34 15,000,000 15,269,100
Bay Area Toll Authority,        
San Francisco Bay Area Toll        
Bridge Revenue 5.50 4/1/43 10,000,000 10,512,500
Brentwood Infrastructure Financing        
Authority, Water Revenue 5.75 7/1/38 4,250,000 4,585,325
California,        
Economic Recovery Bonds 5.00 7/1/20 20,000,000 22,079,400
California,        
GO (Various Purpose) 5.75 4/1/31 4,500,000 4,621,545
California,        
GO (Various Purpose) 6.50 4/1/33 30,000,000 32,480,100
California Department of Veteran        
Affairs, Home Purchase Revenue 5.20 12/1/28 8,530,000 8,534,265
California Department of Water        
Resources, Power Supply Revenue 5.00 5/1/21 7,500,000 8,322,075
California Department of Water        
Resources, Power Supply        
Revenue (Prerefunded) 5.88 5/1/12 10,000,000 a 11,230,800


California Department of Water        
Resources, Water System        
Revenue (Central Valley        
Project) 5.00 12/1/26 7,500,000 8,174,400
California Department of Water        
Resources, Water System        
Revenue (Central Valley        
Project) 5.00 12/1/27 11,600,000 12,548,764
California Department of Water        
Resources, Water System        
Revenue (Central Valley        
Project) (Prerefunded) 5.50 12/1/11 225,000 a 244,888
California Educational Facilities        
Authority, Revenue (Pooled        
College and University        
Projects) 5.63 7/1/23 210,000 167,605
California Educational Facilities        
Authority, Revenue (Pooled        
College and University        
Projects) 5.63 7/1/23 135,000 167,995
California Educational Facilities        
Authority, Revenue (University        
of Southern California) 4.50 10/1/33 54,500,000 52,666,620
California Educational Facilities        
Authority, Revenue (University        
of Southern California) 5.25 10/1/38 9,500,000 10,131,940
California Health Facilities        
Financing Authority, Health        
Facility Revenue (Adventist        
Health System/West) 5.00 3/1/17 870,000 896,709
California Health Facilities        
Financing Authority, Health        
Facility Revenue (Adventist        
Health System/West) 5.00 3/1/18 1,000,000 1,024,410
California Health Facilities        
Financing Authority, Revenue        
(Catholic Healthcare West) 5.63 7/1/32 5,875,000 5,946,087
California Health Facilities        
Financing Authority, Revenue        
(Cedars-Sinai Medical Center) 5.00 11/15/19 2,000,000 2,099,240
California Health Facilities        
Financing Authority, Revenue        
(Scripps Health) 5.00 11/15/36 4,000,000 3,884,880
California Health Facilities        
Financing Authority, Revenue        
(Sutter Health) 5.25 8/15/22 6,000,000 6,253,800
California Health Facilities        
Financing Authority, Revenue        
(Sutter Health) 6.25 8/15/35 7,465,000 7,559,582
California Health Facilities        
Financing Authority, Revenue        
(Sutter Health) (Insured;        
National Public Finance        
Guarantee Corp.) 5.35 8/15/28 2,290,000 2,292,840
California Housing Finance Agency,        
Home Mortgage Revenue 5.50 8/1/38 16,195,000 16,276,947


California Infrastructure and        
Economic Development Bank,        
Revenue (Kaiser Hospital        
Assistance I-LLC) 5.55 8/1/31 21,900,000 22,143,966
California Infrastructure and        
Economic Development Bank,        
Revenue (Performing Arts        
Center of Los Angeles County) 5.00 12/1/27 1,000,000 1,008,250
California Infrastructure and        
Economic Development Bank,        
Revenue (The J. Paul Getty        
Trust) 4.00 12/1/11 2,515,000 2,665,850
California Municipal Finance        
Authority, COP (Community        
Hospitals of Central        
California Obligated Group) 5.25 2/1/27 6,750,000 6,209,325
California Pollution Control        
Financing Authority, PCR (San        
Diego Gas and Electric        
Company) (Insured; National        
Public Finance Guarantee Corp.) 5.90 6/1/14 59,330,000 67,546,018
California Public Works Board,        
LR (Department of Corrections,        
Calipatria State Prison,        
Imperial County) (Insured;        
National Public Finance        
Guarantee Corp.) 6.50 9/1/17 13,000,000 14,504,360
California Public Works Board,        
LR (Department of Health        
Services-Richmond Laboratory,        
Phase III Office Building)        
(Insured; XLCA) 5.00 11/1/19 1,680,000 1,707,434
California Public Works Board,        
LR (Various University of        
California Projects) 5.50 6/1/14 5,000,000 5,457,600
California State University        
Fresno Association Inc.,        
Auxiliary Organization Event        
Center Revenue (Prerefunded) 6.00 7/1/12 3,500,000 a 3,940,440
California State University        
Fresno Association Inc.,        
Auxiliary Organization Event        
Center Revenue (Prerefunded) 6.00 7/1/12 2,500,000 a 2,814,600
California State University        
Fresno Association Inc.,        
Auxiliary Organization Event        
Center Revenue (Prerefunded) 6.00 7/1/12 5,250,000 a 5,910,660
California State University        
Trustees, Systemwide Revenue 5.00 11/1/27 2,510,000 2,600,159
California State University        
Trustees, Systemwide Revenue 5.00 11/1/28 5,000,000 5,155,400
California State University        
Trustees, Systemwide Revenue        
(Insured; National Public        
Finance Guarantee Corp.) 5.00 11/1/26 10,485,000 10,904,400
California Statewide Communities        


Development Authority, COP        
(Catholic Healthcare West)        
(Prerefunded) 6.50 7/1/10 2,780,000 a 2,863,011
California Statewide Communities        
Development Authority, COP        
(The Internext Group) 5.38 4/1/30 20,000,000 17,885,400
California Statewide Communities        
Development Authority, Health        
Facility Revenue (Adventist        
Health System/West) 5.00 3/1/35 7,380,000 6,891,223
California Statewide Communities        
Development Authority, Insured        
Revenue (Saint Joseph Health        
System) (Insured; FGIC) 5.75 7/1/47 10,000,000 10,227,200
California Statewide Communities        
Development Authority, Revenue        
(Daughters of Charity Health        
System) 5.25 7/1/24 8,205,000 7,753,561
California Statewide Communities        
Development Authority, Revenue        
(Daughters of Charity Health        
System) 5.25 7/1/35 10,770,000 9,432,689
California Statewide Communities        
Development Authority, Revenue        
(Inland Regional Center        
Project) 5.25 12/1/27 9,000,000 7,475,670
California Statewide Communities        
Development Authority, Revenue        
(Kaiser Permanente) 5.50 11/1/32 13,500,000 13,585,590
California Statewide Communities        
Development Authority, Revenue        
(Saint Ignatius College        
Preparatory) (Insured; AMBAC) 5.00 6/1/32 5,635,000 5,386,722
California Statewide Communities        
Development Authority, Revenue        
(Sutter Health) 5.50 8/15/28 14,000,000 14,095,900
California Statewide Communities        
Development Authority, Revenue        
(The California Endowment) 5.25 7/1/20 2,280,000 2,539,555
California Statewide Communities        
Development Authority, Revenue        
(The California Endowment) 5.00 7/1/28 15,360,000 15,838,310
California Statewide Communities        
Development Authority, Revenue        
(The California Endowment) 5.00 7/1/33 19,710,000 20,106,959
California Statewide Communities        
Development Authority, Revenue        
(The California Endowment) 5.00 7/1/36 14,355,000 14,599,466
California Statewide Communities        
Development Authority, Student        
Housing Revenue (CHF-Irvine,        
LLC-UCI East Campus        
Apartments, Phase II) 5.75 5/15/32 4,500,000 4,508,325
Capistrano Unified School District        
(Ladera) Community Facilities        
District Number 98-2, Special        


Tax Bonds (Insured; National        
Public Finance Guarantee Corp.) 5.00 9/1/19 3,545,000 3,594,914
Capistrano Unified School        
District, School Facilities        
Improvement District Number 1        
(Insured; National Public        
Finance Guarantee Corp.) 6.00 8/1/24 2,075,000 2,131,938
Carson Redevelopment Agency,        
Tax Allocation Revenue        
(Redevelopment Project Area        
Number 1) (Insured; National        
Public Finance Guarantee Corp.) 5.50 10/1/13 1,000,000 1,093,440
Central California Joint Powers        
Health Financing Authority,        
COP (Community Hospitals of        
Central California Obligated        
Group) (Prerefunded) 5.75 2/1/11 18,500,000 a 19,633,680
Chabot-Las Positas Community        
College District, GO (Insured;        
AMBAC) 0.00 8/1/22 3,000,000 b 1,594,080
Chabot-Las Positas Community        
College District, GO (Insured;        
AMBAC) 0.00 8/1/32 10,000,000 b 2,370,300
Chino Valley Unified School        
District, GO (Insured;        
National Public Finance        
Guarantee Corp.) 5.25 8/1/30 10,000,000 10,188,600
Coast Community College District,        
GO (Insured; Assured Guaranty        
Municipal Corp.) 0.00 8/1/29 15,565,000 b 13,390,570
Compton Public Finance Authority,        
LR (Various Capital Projects)        
(Insured; AMBAC) 5.25 9/1/27 13,355,000 13,436,866
Delano,        
COP (Delano Regional Medical        
Center) 5.25 1/1/18 11,325,000 11,302,576
Fontana Community Facilities        
District Number 2, Senior        
Special Tax Revenue (Village        
of Heritage) (Insured;        
National Public Finance        
Guarantee Corp.) 5.25 9/1/17 10,000,000 10,055,600
Fontana Public Financing        
Authority, Tax Allocation        
Revenue (North Fontana        
Redevelopment Project)        
(Insured; AMBAC) 5.50 9/1/32 13,800,000 13,503,576
Foothill-De Anza Community College        
District, GO (Insured; AMBAC) 5.00 8/1/22 10,350,000 11,278,602
Foothill/Eastern Transportation        
Corridor Agency, Toll Road        
Revenue 5.75 1/15/40 1,745,000 1,665,271
Foothill/Eastern Transportation        
Corridor Agency, Toll Road        
Revenue (Insured; National        
Public Finance Guarantee Corp.) 5.25 1/15/12 4,550,000 4,577,300


Foothill/Eastern Transportation        
Corridor Agency, Toll Road        
Revenue (Insured; National        
Public Finance Guarantee Corp.) 5.13 1/15/19 2,000,000 1,949,640
Fullerton Community Facilities        
District Number 1, Special Tax        
Revenue (Amerige Heights) 6.20 9/1/32 2,500,000 2,434,950
Golden State Tobacco        
Securitization Corporation,        
Enhanced Tobacco Settlement        
Asset-Backed Bonds (Insured;        
Assured Guaranty Municipal        
Corp.) 0/4.55 6/1/22 1,725,000 c 1,569,750
Golden State Tobacco        
Securitization Corporation,        
Tobacco Settlement        
Asset-Backed Bonds 4.50 6/1/27 13,500,000 12,459,825
Golden State Tobacco        
Securitization Corporation,        
Tobacco Settlement        
Asset-Backed Bonds 5.00 6/1/33 10,000,000 7,708,800
Golden State Tobacco        
Securitization Corporation,        
Tobacco Settlement        
Asset-Backed Bonds 5.75 6/1/47 10,725,000 7,908,293
Golden State Tobacco        
Securitization Corporation,        
Tobacco Settlement        
Asset-Backed Bonds        
(Prerefunded) 6.75 6/1/13 14,770,000 a 17,367,600
Grossmont Union High School        
District, GO (Insured; Assured        
Guaranty Municipal Corp.) 0.00 8/1/21 4,375,000 b 2,592,144
Grossmont Union High School        
District, GO (Insured; Assured        
Guaranty Municipal Corp.) 0.00 8/1/22 4,605,000 b 2,584,234
Grossmont Union High School        
District, GO (Insured; Assured        
Guaranty Municipal Corp.) 0.00 8/1/23 4,850,000 b 2,458,950
Grossmont Union High School        
District, GO (Insured; Assured        
Guaranty Municipal Corp.) 0.00 8/1/26 3,265,000 b 1,292,548
Kaweah Delta Health Care District,        
Revenue (Prerefunded) 6.00 8/1/12 9,000,000 a 10,283,040
Lincoln Community Facilities        
District Number 2003-1,        
Special Tax Bonds (Lincoln        
Crossing Project) (Prerefunded) 5.65 9/1/13 1,125,000 a 1,322,955
Los Angeles,        
Wastewater System Revenue        
(Insured; Assured Guaranty        
Municipal Corp.) 5.00 6/1/32 6,050,000 6,131,312
Los Angeles,        
Wastewater System Revenue        
(Insured; National Public        
Finance Guarantee Corp.) 4.75 6/1/35 8,000,000 7,883,600


Los Angeles Department of        
Airports, Senior Revenue (Los        
Angeles International Airport) 5.25 5/15/29 16,090,000 16,855,240
Los Angeles Department of Water        
and Power, Power System Revenue 5.00 7/1/30 4,250,000 4,346,263
Los Angeles Harbor Department,        
Revenue 5.25 8/1/25 26,055,000 28,785,825
Los Angeles Unified School        
District, GO (Insured; FGIC) 5.00 7/1/21 4,630,000 4,861,824
Los Angeles Unified School        
District, GO (Insured;        
National Public Finance        
Guarantee Corp.) 5.75 7/1/15 3,000,000 3,522,810
Los Angeles Unified School        
District, GO (Insured;        
National Public Finance        
Guarantee Corp.) 5.75 7/1/17 8,385,000 9,940,501
Metropolitan Water District of        
Southern California, Water        
Revenue 5.00 1/1/39 5,000,000 5,249,400
Midpeninsula Regional Open Space        
District Financing Authority,        
Revenue (Insured; AMBAC) 0.00 9/1/15 2,825,000 b 2,508,035
Modesto Irrigation District,        
COP (Capital Improvements)        
(Insured; Assured Guaranty        
Municipal Corp.) 5.25 7/1/16 1,370,000 1,462,448
Murrieta Valley Unified School        
District, GO (Insured;        
National Public Finance        
Guarantee Corp.) 0.00 9/1/21 4,950,000 b 2,619,887
Natomas Unified School District,        
GO (Insured; National Public        
Finance Guarantee Corp.) 5.95 9/1/21 2,500,000 2,880,600
Northern California Power Agency,        
Revenue (Hydroelectric Project        
Number 1) (Insured; AMBAC)        
(Prerefunded) 7.00 1/1/16 670,000 a 857,593
Northern California Power Agency,        
Revenue (Hydroelectric Project        
Number 1) (Insured; AMBAC)        
(Prerefunded) 7.50 7/1/21 375,000 a 512,250
Northern California Power Agency,        
Revenue (Hydroelectric Project        
Number 1) (Insured; National        
Public Finance Guarantee Corp.) 6.30 7/1/18 26,400,000 30,527,376
Oakland Unified School District,        
GO (Insured; National Public        
Finance Guarantee Corp.) 5.25 8/1/24 17,275,000 17,344,618
Orange County Community Facilities        
District (Landera Ranch)        
Special Tax Number 3 5.60 8/15/28 3,250,000 3,063,775
Orange County Community Facilities        
District (Landera Ranch)        
Special Tax Number 3 5.63 8/15/34 6,000,000 5,459,760


Orange County Public Financing        
Authority, LR (Juvenile        
Justice Center Facility)        
(Insured; AMBAC) 5.38 6/1/19 2,000,000 2,105,620
Pomona,        
COP (General Fund Lease        
Financing) (Insured; AMBAC) 5.50 6/1/28 1,000,000 1,040,700
Pomona Redevelopment Agency,        
Tax Allocation Revenue (West        
Holt Avenue Redevelopment        
Project) 5.50 5/1/32 3,000,000 2,921,040
Rancho California Water District        
Financing Authority, Revenue        
(Insured; Assured Guaranty        
Municipal Corp.) 5.00 8/1/28 8,965,000 9,327,365
Rancho Cucamonga Redevelopment        
Agency, Tax Allocation Revenue        
(Rancho Development Project)        
(Insured; National Public        
Finance Guarantee Corp.) 5.38 9/1/25 7,485,000 7,511,347
Rancho Mirage Joint Powers        
Financing Authority, Revenue        
(Eisenhower Medical Center)        
(Prerefunded) 5.63 7/1/14 10,430,000 a 12,396,159
Riverside County Public Financing        
Authority, Tax Allocation        
Revenue (Redevelopment        
Projects) (Insured; XLCA) 5.25 10/1/18 1,275,000 1,308,290
Sacramento County,        
Airport System Senior Revenue 5.00 7/1/24 5,090,000 5,370,255
Sacramento County,        
Airport System Senior Revenue 5.13 7/1/25 5,890,000 6,227,438
Sacramento County Water Financing        
Authority, Revenue (Sacramento        
County Water Agency Zones 40        
and 41 Water System Project)        
(Insured; National Public        
Finance Guarantee Corp.) 5.00 6/1/25 10,845,000 11,035,764
Sacramento Municipal Utility        
District, Electric Revenue        
(Insured; National Public        
Finance Guarantee Corp.) 6.50 9/1/13 6,930,000 7,607,408
San Bernardino County,        
COP (Capital Facilities        
Project) 6.88 8/1/24 5,000,000 6,700,900
San Diego County,        
COP (Burnham Institute for        
Medical Research) 5.00 9/1/24 2,265,000 2,088,806
San Diego County,        
COP (Burnham Institute for        
Medical Research) 5.00 9/1/34 9,880,000 8,254,542
San Diego Public Facilities        
Financing Authority, Senior        
Sewer Revenue 5.25 5/15/34 8,045,000 8,427,620
San Diego Public Facilities        
Financing Authority, Water        


Revenue 5.13 8/1/29 6,470,000 6,880,069
San Diego Unified School District,        
GO (Insured; Assured Guaranty        
Municipal Corp.) 5.25 7/1/16 1,465,000 1,670,540
San Francisco City and County,        
COP (San Bruno Jail Number 3)        
(Insured; AMBAC) 5.25 10/1/21 2,985,000 3,024,551
San Francisco City and County        
Airport Commission, San        
Francisco International        
Airport Second Series Revenue        
(Issue 32F) (Insured; National        
Public Finance Guarantee Corp.) 5.00 5/1/21 1,000,000 1,059,280
San Francisco City and County        
Airport Commission, San        
Francisco International        
Airport Second Series Revenue        
(Issue 34D) 5.25 5/1/26 4,000,000 4,203,160
San Francisco City and County        
Public Utilities Commission,        
San Francisco Water Revenue 5.00 11/1/27 11,000,000 11,811,140
San Francisco City and County        
Public Utilities Commission,        
San Francisco Water Revenue        
(Insured; Assured Guaranty        
Municipal Corp.) 5.00 11/1/24 13,185,000 14,103,335
San Francisco City and County        
Redevelopment Agency,        
Community Facilities District        
Number 6 (Mission Bay South        
Public Improvements) 0.00 8/1/18 445,000 b 266,386
San Francisco City and County        
Redevelopment Agency,        
Community Facilities District        
Number 6 (Mission Bay South        
Public Improvements) 0.00 8/1/21 500,000 b 240,405
San Joaquin Hills Transportation        
Corridor Agency, Toll Road        
Revenue (Insured; National        
Public Finance Guarantee Corp.) 0.00 1/15/32 48,295,000 b 7,909,272
San Mateo Redevelopment Agency,        
Merged Area Tax Allocation        
Revenue (Prerefunded) 5.10 8/1/11 1,835,000 a 1,959,211
Santa Clara Unified School        
District, GO (Prerefunded) 5.50 7/1/10 1,870,000 a 1,923,370
Santa Rosa,        
Wastewater Revenue (Insured;        
Assured Guaranty Municipal        
Corp.) 5.25 9/1/24 5,110,000 5,538,831
Sequoia Union High School        
District, GO (Insured; Assured        
Guaranty Municipal Corp.) 5.00 7/1/24 2,695,000 2,863,249
Simi Valley School Financing        
Authority, GO Revenue (Simi        
Valley Unified School        
District, GO Bond) (Insured;        
Assured Guaranty Municipal        


Corp.) 5.00 8/1/27 6,500,000 6,948,305
Southern California Public Power        
Authority, Revenue (Milford        
Wind Corridor Phase I Project) 5.00 7/1/29 11,865,000 12,255,714
Tobacco Securitization Authority        
of Northern California,        
Tobacco Settlement        
Asset-Backed Bonds (Sacramento        
County Tobacco Securitization        
Corporation) 5.38 6/1/38 20,000,000 15,835,000
Tobacco Securitization Authority        
of Southern California,        
Tobacco Settlement        
Asset-Backed Bonds (San Diego        
County Tobacco Asset        
Securitization Corporation) 4.75 6/1/25 2,030,000 1,866,057
Torrance Redevelopment Agency,        
Tax Allocation Revenue 5.63 9/1/28 500,000 427,640
Tuolumne Wind Project Authority,        
Revenue (Tuolumne Company        
Project) 5.63 1/1/29 8,000,000 8,596,000
University of California Regents,        
General Revenue 5.25 5/15/28 10,000,000 10,900,900
University of California Regents,        
General Revenue 5.75 5/15/31 8,000,000 9,007,680
University of California Regents,        
Medical Center Pooled Revenue 5.25 5/15/19 10,000,000 11,066,500
West Covina Redevelopment Agency,        
Community Facilities District,        
Special Tax Revenue (Fashion        
Plaza) 6.00 9/1/17 6,000,000 6,873,480
West Covina Redevelopment Agency,        
Community Facilities District,        
Special Tax Revenue (Fashion        
Plaza) 6.00 9/1/22 11,325,000 12,528,168
West Kern Community College        
District, GO (Insured; XLCA) 0.00 11/1/20 1,000,000 b 558,090
Whittier,        
Health Facility Revenue        
(Presbyterian Intercommunity        
Hospital) (Prerefunded) 5.75 6/1/12 10,090,000 a 11,333,593
Yorba Linda Water District,        
Revenue, COP (Capital        
Improvement Projects) 5.00 10/1/38 3,000,000 3,039,600
U.S. Related--8.7%        
Government of Guam,        
LOR (Section 30) 5.63 12/1/29 2,850,000 2,893,577
Puerto Rico Commonwealth,        
Public Improvement GO 5.25 7/1/22 2,000,000 2,030,020
Puerto Rico Electric Power        
Authority, Power Revenue 5.00 7/1/28 6,040,000 6,032,390
Puerto Rico Electric Power        
Authority, Power Revenue        
(Insured; National Public        
Finance Guarantee Corp.) 5.25 7/1/30 10,000,000 10,200,600


Puerto Rico Highways and        
Transportation Authority,        
Highway Revenue (Insured;        
Assured Guaranty Municipal        
Corp.) 6.25 7/1/16 3,000,000 3,525,450
Puerto Rico Highways and        
Transportation Authority,        
Highway Revenue (Insured;        
National Public Finance        
Guarantee Corp.) 5.50 7/1/13 4,750,000 5,086,015
Puerto Rico Infrastructure        
Financing Authority, Special        
Obligation Bonds (Prerefunded) 5.50 10/1/10 2,500,000 a 2,604,875
Puerto Rico Infrastructure        
Financing Authority, Special        
Tax Revenue (Insured; AMBAC) 5.50 7/1/28 10,200,000 10,187,556
Puerto Rico Infrastructure        
Financing Authority, Special        
Tax Revenue (Prerefunded) 5.50 10/1/10 34,000,000 a 35,426,300
Puerto Rico Public Buildings        
Authority, Government Facility        
Revenue 5.50 7/1/16 1,500,000 1,603,695
Puerto Rico Sales Tax Financing        
Corporation, Sales Tax Revenue        
(First Subordinate Series) 5.38 8/1/39 5,000,000 5,005,500
Puerto Rico Sales Tax Financing        
Corporation, Sales Tax Revenue        
(First Subordinate Series) 6.38 8/1/39 4,500,000 4,834,440
Puerto Rico Sales Tax Financing        
Corporation, Sales Tax Revenue        
(First Subordinate Series) 6.00 8/1/42 7,500,000 7,874,025
University of Puerto Rico,        
University System Revenue 5.00 6/1/23 10,000,000 9,697,400
Virgin Islands Public Finance        
Authority, Revenue 7.30 10/1/18 3,100,000 3,867,064
Virgin Islands Public Finance        
Authority, Revenue (Virgin        
Islands Gross Receipts Taxes        
Loan Note) 5.63 10/1/10 345,000 352,421
Virgin Islands Public Finance        
Authority, Revenue (Virgin        
Islands Matching Fund Loan        
Notes) 5.00 10/1/25 5,000,000 5,011,100
Virgin Islands Water and Power        
Authority, Electric System        
Revenue (Insured; Radian) 5.13 7/1/11 1,000,000 1,007,410
Total Investments (cost $1,291,476,830)     98.8% 1,327,633,579
Cash and Receivables (Net)     1.2% 16,119,325
Net Assets     100.0% 1,343,752,904

a     

These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date.

b     

Security issued with a zero coupon. Income is recognized through the accretion of discount.

c     

Zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity.


At February 28, 2010, the aggregate cost of investment securities for income tax purposes was $1,291,476,830. Net unrealized appreciation on investments was $36,156,749 of which $60,227,208 related to appreciated investment securities and $24,070,459 related to depreciated investment securities.

Summary of Abbreviations    
ABAG Association of Bay Area Governments 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 BPA Bond Purchase Agreement
CIFG CDC Ixis Financial Guaranty 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
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 MFHR Multi-Family Housing Revenue
MFMR Multi-Family 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    


Various inputs are used in determining the value of the fund's investments relating to Fair Value Measurements. These inputs are summarized in the three broad levels listed below.

       Level 1 - unadjusted quoted prices in active markets for identical investments.

       Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

     Level 3 - significant unobservable inputs (including the fund's own assumptions 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.

The following is a summary of the inputs used as of February 28, 2010 in valuing the fund's investments:

  Level 1 - Unadjusted Level 2 - Other Significant Level 3 -Significant  
Assets ($) Quoted Prices Observable Inputs Unobservable Inputs Total
Investments in Securities:        
Municipal Bonds - 1,327,633,579 - 1,327,633,579


The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) has become the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The ASC has superseded all existing non-SEC accounting and reporting standards. The fund’s financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

Portfolio valuation: Investments in securities are valued each business day by an independent pricing service (the “Service”) approved by the Board of Directors. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. Options and financial futures on municipal and U.S.Treasury securities are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on each business day.

The fund adopted the provisions of ASC Topic 815 “Derivatives and Hedging” which requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments and disclosures about credit-risk-related contingent features in derivative agreements. The fund held no derivatives during the period ended February 28, 2010.These disclosures did not impact the notes to the financial statements.

Additional 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.


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.

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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.

                      DREYFUS PREMIER CALIFORNIA AMT-FREE MUNICIPAL BOND FUND, INC.
                         - Dreyfus California AMT-Free Municipal Bond Fund

By: /s/ Bradley J. Skapyak
  Bradley J. Skapyak
  President
 
Date: April 22, 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/ Bradley J. Skapyak
  Bradley J. Skapyak
  President
 
Date: April 22, 2010

By: /s/ James Windels
  James Windels
Treasurer       
 
Date: April 22, 2010

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)

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