Item B.1. Background information.

a. Full name of Registrant	Franklin Tax Free Trust
b. Investment Company Act file number ( e.g., 811-)	811-04149
c. CIK	0000757010
d. LEI	549300C12HCE48FV1C70

Item B.2. Address and telephone number of Registrant.

a. Street 1	ONE FRANKLIN PARKWAY
Street 2
b. City	SAN MATEO
c. State, if applicable	CALIFORNIA
d. Foreign country, if applicable	UNITED STATES OF AMERICA
e. Zip code and zip code extension, or foreign postal code	94403-1906
f. Telephone number (including country code if foreign)	650-312-2000
g. Public Website, if any	franklintempleton.com

Item B.3. Location of books and records.

Instruction. Provide the requested information for each person maintaining physical possession of each account, book, or other document required to be maintained by section 31(a) of the Act (15 U.S.C. 80a-30(a)) and the rules under that section.

Location books Record: 1
a. Name of person (e.g., a custodian of records)	Franklin Advisers, Inc.
b. Street 1	One Franklin Parkway
Street 2
c. City	San Mateo
d. State, if applicable	CALIFORNIA
e. Foreign country, if applicable	UNITED STATES OF AMERICA
f. Zip code and zip code extension, or foreign postal code	94403-1906
g. Telephone number (including country code if foreign)	650-312-2000
h. Briefly describe the books and records kept at this location:	Records related to its functions as Investment manager
Location books Record: 2
a. Name of person (e.g., a custodian of records)	The Bank of New York Mellon
b. Street 1	111 Sanders Creek Parkway
Street 2
c. City	East Syracuse
d. State, if applicable	NEW YORK
e. Foreign country, if applicable	UNITED STATES OF AMERICA
f. Zip code and zip code extension, or foreign postal code	13057
g. Telephone number (including country code if foreign)	855-231-1706
h. Briefly describe the books and records kept at this location:	Records related to its functions as Custodian
Location books Record: 3
a. Name of person (e.g., a custodian of records)	Franklin Templeton Investor Services, LLC
b. Street 1	One Franklin Parkway
Street 2
c. City	San Mateo
d. State, if applicable	CALIFORNIA
e. Foreign country, if applicable	UNITED STATES OF AMERICA
f. Zip code and zip code extension, or foreign postal code	94403-1906
g. Telephone number (including country code if foreign)	650-312-2000
h. Briefly describe the books and records kept at this location:	Records related to its functions as Transfer agent
Location books Record: 4
a. Name of person (e.g., a custodian of records)	Franklin Templeton Distributors, Inc.
b. Street 1	One Franklin Parkway
Street 2
c. City	San Mateo
d. State, if applicable	CALIFORNIA
e. Foreign country, if applicable	UNITED STATES OF AMERICA
f. Zip code and zip code extension, or foreign postal code	94403-1906
g. Telephone number (including country code if foreign)	650-312-2000
h. Briefly describe the books and records kept at this location:	Records related to its functions as Principal underwriter
Location books Record: 5
a. Name of person (e.g., a custodian of records)	Franklin Templeton Services, LLC
b. Street 1	One Franklin Parkway
Street 2
c. City	San Mateo
d. State, if applicable	CALIFORNIA
e. Foreign country, if applicable	UNITED STATES OF AMERICA
f. Zip code and zip code extension, or foreign postal code	94403-1906
g. Telephone number (including country code if foreign)	650-312-2000
h. Briefly describe the books and records kept at this location:	Records related to its functions as Administrative manager

Item B.4. Initial of final filings.

Instruction. Respond "yes" to Item B.4.b only if the Registrant has filed an application to deregister or will file an application to deregister before its next required filing on this form.

a. Is this the first filing on this form by the Registrant?	Yes No
b. Is this the last filing on this form by the Registrant?	Yes No

Item B.5. Family of investment companies.

Instruction. "Family of investment companies" means, except for insurance company separate accounts, any two or more registered investment companies that (i) share the same investment adviser or principal underwriter; and (ii) hold themselves out to investors as related companies for purposes of investment and investor services.In responding to this item, all Registrants in the family of investment companies should report the name of the family of investment companies identically.

Insurance company separate accounts that may not hold themselves out to investors as related companies (products) for purposes of investment and investor services should consider themselves part of the same family if the operational or accounting or control systems under which these entities function are substantially similar.

a. Is the Registrant part of a family of investment companies?

Yes No

i. Full name of family of investment companies

Franklin Templeton Group of Funds

Item B.6. Organization.

Instruction. For Item B.6.a.i., the Registrant should include all Series that have been established by the Registrant and have shares outstanding (other than shares issued in connection with an initial investment to satisfy section 14(a) of the Act).

Indicate the classification of the Registrant by checking the applicable item below.

 a. Open-end management investment company registered under the Act on Form N-1A 
 b. Closed-end management investment company registered under the Act on Form N-2  
 c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3 
 d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4 
 e. Small business investment company registered under the Act on Form N-5 
 f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6 
 g. Unit investment trust registered under the Act on Form N-8B-2 

i. Total number of Series of the Registrant

22

Item B.7. Securities Act registration.

Is the Registrant the issuer of a class of securities registered under the Securities Act of 1933 ("Securities Act")?

Yes No

Item B.8. Directors.

Provide the information requested below about each person serving as director of the Registrant (management investment companies only):

Director Record: 1
a. Full Name	Edith E. Holiday
b. CRD number, if any	N/A
c. Is the person an "interested person" of the Registrant as that term is defined in section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19))?	Yes No
d. Investment Company Act file number of any other registered investment company for which the person also serves as a director (e.g., 811-)
File Number Record: 1
File Number Record:	811-05569
File Number Record: 2
File Number Record:	811-00537
File Number Record: 3
File Number Record:	811-04267
File Number Record: 4
File Number Record:	811-06481
File Number Record: 5
File Number Record:	811-03395
File Number Record: 6
File Number Record:	811-04986
File Number Record: 7
File Number Record:	811-07288
File Number Record: 8
File Number Record:	811-05914
File Number Record: 9
File Number Record:	811-07866
File Number Record: 10
File Number Record:	811-21357
File Number Record: 11
File Number Record:	811-05459
File Number Record: 12
File Number Record:	811-08394
File Number Record: 13
File Number Record:	811-04787
File Number Record: 14
File Number Record:	811-04356
File Number Record: 15
File Number Record:	811-05583
File Number Record: 16
File Number Record:	811-02781
File Number Record: 17
File Number Record:	811-08226
File Number Record: 18
File Number Record:	811-02790
File Number Record: 19
File Number Record:	811-04892
File Number Record: 20
File Number Record:	811-09869
File Number Record: 21
File Number Record:	811-04706
File Number Record: 22
File Number Record:	811-06243
File Number Record: 23
File Number Record:	811-08034
File Number Record: 24
File Number Record:	811-04450
File Number Record: 25
File Number Record:	811-10157
File Number Record: 26
File Number Record:	811-04894
File Number Record: 27
File Number Record:	811-06378
File Number Record: 28
File Number Record:	811-07851
File Number Record: 29
File Number Record:	811-02605
File Number Record: 30
File Number Record:	811-07876
File Number Record: 31
File Number Record:	811-04149
File Number Record: 32
File Number Record:	811-06336
File Number Record: 33
File Number Record:	811-03143
File Number Record: 34
File Number Record:	811-06135
File Number Record: 35
File Number Record:	811-01608
File Number Record: 36
File Number Record:	811-01700
File Number Record: 37
File Number Record:	811-03479
File Number Record: 38
File Number Record:	811-07038
File Number Record: 39
File Number Record:	811-04985
File Number Record: 40
File Number Record:	811-08962
Director Record: 2
a. Full Name	J. Michael Luttig
b. CRD number, if any	N/A
c. Is the person an "interested person" of the Registrant as that term is defined in section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19))?	Yes No
d. Investment Company Act file number of any other registered investment company for which the person also serves as a director (e.g., 811-)
File Number Record: 1
File Number Record:	811-01700
File Number Record: 2
File Number Record:	811-04986
File Number Record: 3
File Number Record:	811-06378
File Number Record: 4
File Number Record:	811-07851
File Number Record: 5
File Number Record:	811-06481
File Number Record: 6
File Number Record:	811-08034
File Number Record: 7
File Number Record:	811-07876
File Number Record: 8
File Number Record:	811-04450
File Number Record: 9
File Number Record:	811-03395
File Number Record: 10
File Number Record:	811-02790
File Number Record: 11
File Number Record:	811-07038
File Number Record: 12
File Number Record:	811-03479
File Number Record: 13
File Number Record:	811-05914
File Number Record: 14
File Number Record:	811-04892
File Number Record: 15
File Number Record:	811-06135
File Number Record: 16
File Number Record:	811-07288
File Number Record: 17
File Number Record:	811-07866
File Number Record: 18
File Number Record:	811-04356
File Number Record: 19
File Number Record:	811-04787
File Number Record: 20
File Number Record:	811-01608
File Number Record: 21
File Number Record:	811-08394
File Number Record: 22
File Number Record:	811-05569
File Number Record: 23
File Number Record:	811-00537
File Number Record: 24
File Number Record:	811-08962
File Number Record: 25
File Number Record:	811-09869
File Number Record: 26
File Number Record:	811-08226
File Number Record: 27
File Number Record:	811-02781
File Number Record: 28
File Number Record:	811-04894
File Number Record: 29
File Number Record:	811-04267
File Number Record: 30
File Number Record:	811-10157
File Number Record: 31
File Number Record:	811-05583
File Number Record: 32
File Number Record:	811-04149
File Number Record: 33
File Number Record:	811-06336
File Number Record: 34
File Number Record:	811-06243
File Number Record: 35
File Number Record:	811-04985
File Number Record: 36
File Number Record:	811-21357
File Number Record: 37
File Number Record:	811-05459
File Number Record: 38
File Number Record:	811-04706
File Number Record: 39
File Number Record:	811-03143
File Number Record: 40
File Number Record:	811-02605
Director Record: 3
a. Full Name	Harris J. Ashton
b. CRD number, if any	N/A
c. Is the person an "interested person" of the Registrant as that term is defined in section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19))?	Yes No
d. Investment Company Act file number of any other registered investment company for which the person also serves as a director (e.g., 811-)
File Number Record: 1
File Number Record:	811-02790
File Number Record: 2
File Number Record:	811-00537
File Number Record: 3
File Number Record:	811-01700
File Number Record: 4
File Number Record:	811-06243
File Number Record: 5
File Number Record:	811-10157
File Number Record: 6
File Number Record:	811-06481
File Number Record: 7
File Number Record:	811-05583
File Number Record: 8
File Number Record:	811-03479
File Number Record: 9
File Number Record:	811-07866
File Number Record: 10
File Number Record:	811-04450
File Number Record: 11
File Number Record:	811-07851
File Number Record: 12
File Number Record:	811-02605
File Number Record: 13
File Number Record:	811-03395
File Number Record: 14
File Number Record:	811-04986
File Number Record: 15
File Number Record:	811-04894
File Number Record: 16
File Number Record:	811-08226
File Number Record: 17
File Number Record:	811-21357
File Number Record: 18
File Number Record:	811-04787
File Number Record: 19
File Number Record:	811-04356
File Number Record: 20
File Number Record:	811-07288
File Number Record: 21
File Number Record:	811-04267
File Number Record: 22
File Number Record:	811-01608
File Number Record: 23
File Number Record:	811-09869
File Number Record: 24
File Number Record:	811-05914
File Number Record: 25
File Number Record:	811-04149
File Number Record: 26
File Number Record:	811-07038
File Number Record: 27
File Number Record:	811-08034
File Number Record: 28
File Number Record:	811-02781
File Number Record: 29
File Number Record:	811-08394
File Number Record: 30
File Number Record:	811-06378
File Number Record: 31
File Number Record:	811-08962
File Number Record: 32
File Number Record:	811-04985
File Number Record: 33
File Number Record:	811-07876
File Number Record: 34
File Number Record:	811-06336
File Number Record: 35
File Number Record:	811-04892
File Number Record: 36
File Number Record:	811-03143
File Number Record: 37
File Number Record:	811-05569
File Number Record: 38
File Number Record:	811-04706
File Number Record: 39
File Number Record:	811-05459
File Number Record: 40
File Number Record:	811-06135
Director Record: 4
a. Full Name	Rupert H. Johnson, Jr.
b. CRD number, if any	N/A
c. Is the person an "interested person" of the Registrant as that term is defined in section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19))?	Yes No
d. Investment Company Act file number of any other registered investment company for which the person also serves as a director (e.g., 811-)
File Number Record: 1
File Number Record:	811-02790
File Number Record: 2
File Number Record:	811-01608
File Number Record: 3
File Number Record:	811-08962
File Number Record: 4
File Number Record:	811-00537
File Number Record: 5
File Number Record:	811-05569
File Number Record: 6
File Number Record:	811-06378
File Number Record: 7
File Number Record:	811-06135
File Number Record: 8
File Number Record:	811-05914
File Number Record: 9
File Number Record:	811-06481
File Number Record: 10
File Number Record:	811-07866
File Number Record: 11
File Number Record:	811-07288
File Number Record: 12
File Number Record:	811-03143
File Number Record: 13
File Number Record:	811-07876
File Number Record: 14
File Number Record:	811-08226
File Number Record: 15
File Number Record:	811-01700
File Number Record: 16
File Number Record:	811-08394
File Number Record: 17
File Number Record:	811-04267
File Number Record: 18
File Number Record:	811-04985
File Number Record: 19
File Number Record:	811-04986
File Number Record: 20
File Number Record:	811-09869
File Number Record: 21
File Number Record:	811-08034
File Number Record: 22
File Number Record:	811-04356
File Number Record: 23
File Number Record:	811-04450
File Number Record: 24
File Number Record:	811-04706
File Number Record: 25
File Number Record:	811-06243
File Number Record: 26
File Number Record:	811-06336
File Number Record: 27
File Number Record:	811-02781
File Number Record: 28
File Number Record:	811-10157
File Number Record: 29
File Number Record:	811-04787
File Number Record: 30
File Number Record:	811-05459
File Number Record: 31
File Number Record:	811-03479
File Number Record: 32
File Number Record:	811-03395
File Number Record: 33
File Number Record:	811-04149
File Number Record: 34
File Number Record:	811-04894
File Number Record: 35
File Number Record:	811-05583
File Number Record: 36
File Number Record:	811-02605
File Number Record: 37
File Number Record:	811-21357
File Number Record: 38
File Number Record:	811-07038
File Number Record: 39
File Number Record:	811-04892
File Number Record: 40
File Number Record:	811-07851
Director Record: 5
a. Full Name	Larry D. Thompson
b. CRD number, if any	N/A
c. Is the person an "interested person" of the Registrant as that term is defined in section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19))?	Yes No
d. Investment Company Act file number of any other registered investment company for which the person also serves as a director (e.g., 811-)
File Number Record: 1
File Number Record:	811-04450
File Number Record: 2
File Number Record:	811-06243
File Number Record: 3
File Number Record:	811-08962
File Number Record: 4
File Number Record:	811-00537
File Number Record: 5
File Number Record:	811-06336
File Number Record: 6
File Number Record:	811-05569
File Number Record: 7
File Number Record:	811-06378
File Number Record: 8
File Number Record:	811-08226
File Number Record: 9
File Number Record:	811-07866
File Number Record: 10
File Number Record:	811-02605
File Number Record: 11
File Number Record:	811-01700
File Number Record: 12
File Number Record:	811-09869
File Number Record: 13
File Number Record:	811-04356
File Number Record: 14
File Number Record:	811-21357
File Number Record: 15
File Number Record:	811-04894
File Number Record: 16
File Number Record:	811-03479
File Number Record: 17
File Number Record:	811-10157
File Number Record: 18
File Number Record:	811-08394
File Number Record: 19
File Number Record:	811-02790
File Number Record: 20
File Number Record:	811-05914
File Number Record: 21
File Number Record:	811-05459
File Number Record: 22
File Number Record:	811-04985
File Number Record: 23
File Number Record:	811-04706
File Number Record: 24
File Number Record:	811-01608
File Number Record: 25
File Number Record:	811-02781
File Number Record: 26
File Number Record:	811-07851
File Number Record: 27
File Number Record:	811-03395
File Number Record: 28
File Number Record:	811-04267
File Number Record: 29
File Number Record:	811-06481
File Number Record: 30
File Number Record:	811-04986
File Number Record: 31
File Number Record:	811-08034
File Number Record: 32
File Number Record:	811-07876
File Number Record: 33
File Number Record:	811-04787
File Number Record: 34
File Number Record:	811-05583
File Number Record: 35
File Number Record:	811-07288
File Number Record: 36
File Number Record:	811-07038
File Number Record: 37
File Number Record:	811-06135
File Number Record: 38
File Number Record:	811-04149
File Number Record: 39
File Number Record:	811-03143
File Number Record: 40
File Number Record:	811-04892
Director Record: 6
a. Full Name	Mary C. Choksi
b. CRD number, if any	N/A
c. Is the person an "interested person" of the Registrant as that term is defined in section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19))?	Yes No
d. Investment Company Act file number of any other registered investment company for which the person also serves as a director (e.g., 811-)
File Number Record: 1
File Number Record:	811-01700
File Number Record: 2
File Number Record:	811-07851
File Number Record: 3
File Number Record:	811-09869
File Number Record: 4
File Number Record:	811-00537
File Number Record: 5
File Number Record:	811-21357
File Number Record: 6
File Number Record:	811-08394
File Number Record: 7
File Number Record:	811-06243
File Number Record: 8
File Number Record:	811-02790
File Number Record: 9
File Number Record:	811-07876
File Number Record: 10
File Number Record:	811-01608
File Number Record: 11
File Number Record:	811-04894
File Number Record: 12
File Number Record:	811-08226
File Number Record: 13
File Number Record:	811-07866
File Number Record: 14
File Number Record:	811-06135
File Number Record: 15
File Number Record:	811-06378
File Number Record: 16
File Number Record:	811-03395
File Number Record: 17
File Number Record:	811-05569
File Number Record: 18
File Number Record:	811-04706
File Number Record: 19
File Number Record:	811-04985
File Number Record: 20
File Number Record:	811-06481
File Number Record: 21
File Number Record:	811-07288
File Number Record: 22
File Number Record:	811-05583
File Number Record: 23
File Number Record:	811-04356
File Number Record: 24
File Number Record:	811-04986
File Number Record: 25
File Number Record:	811-04149
File Number Record: 26
File Number Record:	811-04892
File Number Record: 27
File Number Record:	811-05459
File Number Record: 28
File Number Record:	811-06336
File Number Record: 29
File Number Record:	811-03143
File Number Record: 30
File Number Record:	811-10157
File Number Record: 31
File Number Record:	811-05914
File Number Record: 32
File Number Record:	811-04450
File Number Record: 33
File Number Record:	811-03479
File Number Record: 34
File Number Record:	811-04787
File Number Record: 35
File Number Record:	811-04267
File Number Record: 36
File Number Record:	811-02605
File Number Record: 37
File Number Record:	811-08962
File Number Record: 38
File Number Record:	811-07038
File Number Record: 39
File Number Record:	811-02781
File Number Record: 40
File Number Record:	811-08034
Director Record: 7
a. Full Name	Gregory E. Johnson
b. CRD number, if any	N/A
c. Is the person an "interested person" of the Registrant as that term is defined in section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19))?	Yes No
d. Investment Company Act file number of any other registered investment company for which the person also serves as a director (e.g., 811-)
File Number Record: 1
File Number Record:	811-22641
File Number Record: 2
File Number Record:	811-01608
File Number Record: 3
File Number Record:	811-10157
File Number Record: 4
File Number Record:	811-04787
File Number Record: 5
File Number Record:	811-07866
File Number Record: 6
File Number Record:	811-09869
File Number Record: 7
File Number Record:	811-06336
File Number Record: 8
File Number Record:	811-02781
File Number Record: 9
File Number Record:	811-04450
File Number Record: 10
File Number Record:	811-07288
File Number Record: 11
File Number Record:	811-07876
File Number Record: 12
File Number Record:	811-05459
File Number Record: 13
File Number Record:	811-08962
File Number Record: 14
File Number Record:	811-21357
File Number Record: 15
File Number Record:	811-07851
File Number Record: 16
File Number Record:	811-06135
File Number Record: 17
File Number Record:	811-07038
File Number Record: 18
File Number Record:	811-06243
File Number Record: 19
File Number Record:	811-04149
File Number Record: 20
File Number Record:	811-04356
File Number Record: 21
File Number Record:	811-05878
File Number Record: 22
File Number Record:	811-00537
File Number Record: 23
File Number Record:	811-04892
File Number Record: 24
File Number Record:	811-01700
File Number Record: 25
File Number Record:	811-05569
File Number Record: 26
File Number Record:	811-08034
File Number Record: 27
File Number Record:	811-05387
File Number Record: 28
File Number Record:	811-06481
File Number Record: 29
File Number Record:	811-03479
File Number Record: 30
File Number Record:	811-04267
File Number Record: 31
File Number Record:	811-04894
File Number Record: 32
File Number Record:	811-02605
File Number Record: 33
File Number Record:	811-04985
File Number Record: 34
File Number Record:	811-04706
File Number Record: 35
File Number Record:	811-03143
File Number Record: 36
File Number Record:	811-08394
File Number Record: 37
File Number Record:	811-05914
File Number Record: 38
File Number Record:	811-08226
File Number Record: 39
File Number Record:	811-06378
File Number Record: 40
File Number Record:	811-03395
File Number Record: 41
File Number Record:	811-05583
File Number Record: 42
File Number Record:	811-02790
File Number Record: 43
File Number Record:	811-04986
Director Record: 8
a. Full Name	Terrence J. Checki
b. CRD number, if any	N/A
c. Is the person an "interested person" of the Registrant as that term is defined in section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19))?	Yes No
d. Investment Company Act file number of any other registered investment company for which the person also serves as a director (e.g., 811-)
File Number Record: 1
File Number Record:	811-01608
File Number Record: 2
File Number Record:	811-09869
File Number Record: 3
File Number Record:	811-04986
File Number Record: 4
File Number Record:	811-03395
File Number Record: 5
File Number Record:	811-00537
File Number Record: 6
File Number Record:	811-04787
File Number Record: 7
File Number Record:	811-07851
File Number Record: 8
File Number Record:	811-06336
File Number Record: 9
File Number Record:	811-04450
File Number Record: 10
File Number Record:	811-10157
File Number Record: 11
File Number Record:	811-02790
File Number Record: 12
File Number Record:	811-01700
File Number Record: 13
File Number Record:	811-05569
File Number Record: 14
File Number Record:	811-21357
File Number Record: 15
File Number Record:	811-07288
File Number Record: 16
File Number Record:	811-06243
File Number Record: 17
File Number Record:	811-08962
File Number Record: 18
File Number Record:	811-04267
File Number Record: 19
File Number Record:	811-02605
File Number Record: 20
File Number Record:	811-03479
File Number Record: 21
File Number Record:	811-04894
File Number Record: 22
File Number Record:	811-07038
File Number Record: 23
File Number Record:	811-06481
File Number Record: 24
File Number Record:	811-08034
File Number Record: 25
File Number Record:	811-05583
File Number Record: 26
File Number Record:	811-04356
File Number Record: 27
File Number Record:	811-04149

Item B.9. Chief compliance officer.

Provide the information requested below about each person serving as chief compliance officer of the Registrant for purposes of rule 38a-1 (17 CFR 270.38a- 1):

Chief compliance officer Record: 1
a. Full Name	Robert C. Rosselot
b. CRD Number, if any	N/A
c. Street Address 1	300 S.E. 2nd Street
Street Address 2
d. City	Fort Lauderdale
e. State, if applicable	FLORIDA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Zip code and zip code extension, or foreign postal code	33301-1923
h. Telephone number (including country code if foreign)	XXXXXX
i. Has the chief compliance officer changed since the last filing?	Yes No

If the chief compliance officer is compensated or employed by any person other than the Registrant, or an affiliated person of the Registrant, for providing chief compliance officer services, provide:

CCO employer Record: 1
i. Name of the person	N/A
ii. Person's IRS Employer Identification Number	N/A

Item B.10. Matters for security holder vote.

Instruction. Registrants registered on Forms N-3, N-4 or N-6, should respond "yes" to this Item only if security holder votes were solicited on contract-level matters.

Were any matters submitted by the Registrant for its security holders' vote during the reporting period?

Yes No

Item B.11. Legal proceeding.

Instruction. For purposes of this Item, the following proceedings should be described: (1) any bankruptcy, receivership or similar proceeding with respect to the Registrant or any of its significant subsidiaries; (2) any proceeding to which any director, officer or other affiliated person of the Registrant is a party adverse to the Registrant or any of its subsidiaries; and (3) any proceeding involving the revocation or suspension of the right of the Registrant to sell securities.

a. Have there been any material legal proceedings, other than routine litigation incidental to the business, to which the Registrant or any of its subsidiaries was a party or of which any of their property was the subject during the reporting period?

Yes No

b. Has any proceeding previously reported been terminated?

Yes No

Item B.12. Fidelity bond and insurance (management investment companies only).

a. Were any claims with respect to the Registrant filed under a fidelity bond (including, but not limited to, the fidelity insuring agreement of the bond) during the reporting period?	Yes No

Item B.13. Directors and officers/errors and omissions insurance (management investment companies only).

a. Are the Registrant's officers or directors covered in their capacities as officers or directors under any directors and officers/errors and omissions insurance policy owned by the Registrant or anyone else?	Yes No
i. If yes, were any claims filed under the policy during the reporting period with respect to the Registrant?	Yes No

Item B.14. Provision of financial support.

Instruction. For purposes of this Item, a provision of financial support includes any (1) capital contribution, (2) purchase of a security from a Money Market Fund in reliance on rule 17a-9 under the Act (17 CFR 270.17a-9), (3) purchase of any defaulted or devalued security at fair value reasonably intended to increase or stabilize the value or liquidity of the Registrant's portfolio, (4) execution of letter of credit or letter of indemnity, (5) capital support agreement (whether or not the Registrant ultimately received support), (6) performance guarantee, or (7) other similar action reasonably intended to increase or stabilize the value or liquidity of the Registrant's portfolio. Provision of financial support does not include any (1) routine waiver of fees or reimbursement of Registrant's expenses, (2) routine inter-fund lending, (3) routine inter-fund purchases of Registrant's shares, or (4) action that would qualify as financial support as defined above, that the board of directors has otherwise determined not to be reasonably intended to increase or stabilize the value or liquidity of the Registrant's portfolio.

Did an affiliated person, promoter, or principal underwriter of the Registrant, or an affiliated person of such a person, provide any form of financial support to the Registrant during the reporting period?

Yes No

Item B.15. Exemptive orders.

a. During the reporting period, did the Registrant rely on any orders from the Commission granting an exemption from one or more provisions of the Act, Securities Act or Exchange Act?	Yes No
Release number Record: 1
i. If yes, provide below the release number for each order	IC-33117
Release number Record: 2
i. If yes, provide below the release number for each order	IC-15534
Release number Record: 3
i. If yes, provide below the release number for each order	IC-32722
Release number Record: 4
i. If yes, provide below the release number for each order	IC-30698

Item B.16. Principal underwriters.

a. Provide the information requested below about each principal underwriter:

Principal underwriter Record: 1
i. Full name	Franklin Templeton Distributors, Inc.
ii. SEC file number (e.g., 8-)	8-5889
iii. CRD number	000000332
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Is the principal underwriter an affiliated person of the Registrant, or its investment adviser(s) or depositor?	Yes No
b. Have any principal underwriters been hired or terminated during the reporting period?	Yes No

Item B.17. Independent public accountant.

Provide the following information about eachthe independent public accountant:

Public accountant Record: 1
a. Full Name	PRICEWATERHOUSECOOPERS LLP
b. PCAOB Number	238
c. LEI, if any	5493002GVO7EO8RNNS37
d. State, if applicable	CALIFORNIA
e. Foreign country, if applicable	UNITED STATES OF AMERICA

f. Has the independent public accountant changed since the last filing?

Yes No

Item B.18. Report on internal control (management investment companies only).

Instruction. Small business investment companies are not required to respond to this item.

For the reporting period, did an independent public accountant's report on internal control note any material weaknesses?

Yes No

Item B.19. Audit opinion.

For the reporting period, did an independent public accountant issue an opinion other than an unqualified opinion with respect to its audit of the Registrant's financial statements?

Yes No

Item B.20. Change in valuation methods.

Instruction. Responses to this item need not include changes to valuation techniques used for individual securities (e.g., changing from market approach to income approach for a private equity security). In responding to Item B.20.c., provide the applicable "asset type" category specified in Item C.4.a. of Form N-PORT. In responding to Item B.20.d., provide a brief description of the type of investments involved. If the change in valuation methods applies only to certain sub-asset types included in the response to Item B.20.c., please provide the sub-asset types in the response to Item B.20.d. The responses to Item B.20.c. and Item B.20.d. should be identical only if the change in valuation methods applies to all assets within that category.

Have there been material changes in the method of valuation (e.g., change from use of bid price to mid price for fixed income securities or change in trigger threshold for use of fair value factors on international equity securities) of the Registrant's assets during the reporting period?

Yes No

Item B.21. Change in accounting principles and practices.

Have there been any changes in accounting principles or practices, or any change in the method of applying any such accounting principles or practices, which will materially affect the financial statements filed or to be filed for the current year with the Commission and which has not been previously reported?

Yes No

Item B.22. Net asset value error corrections (open-end management investment companies only).

a. During the reporting period, were any payments made to shareholders or shareholder accounts reprocessed as a result of an error in calculating the Registrant's net asset value (or net asset value per share)?

Yes No

Item B.23. Rule 19a-1 notice (management investment companies only).

During the reporting period, did the Registrant pay any dividend or make any distribution in the nature of a dividend payment, required to be accompanied by a written statement pursuant to section 19(a) of the Act (15 U.S.C. 80a-19(a)) and rule 19a-1 thereunder (17 CFR 270.19a-1)?

Yes No

Payment dividend series info Record: 1
a. If yes, and to the extent the response relates only to certain series of the Registrant, indicate the series involved:
i. Series name	Franklin Maryland Tax-Free Income Fund
ii. Series identification number	S000006917

General Instruction. Management investment companies that offer multiple series must complete Part C as to each series separately, even if some information is the same for two or more series. To begin this section or add an additional series(s), click on the bar labeled "Add a New Series" below.

Management Investment Record: 1

Item C.1. Background information.

a. Full Name of the Fund	Franklin Colorado Tax-Free Income Fund
b. Series identication number, if any	S000006929
c. LEI	5493001MXWN8L6M0KP42
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194370
iii. Ticker symbol, if any	FKTLX
Shares Outstanding Record: 2
i. Full name of Class	Class C
ii. Class identification number, if any	C000018797
iii. Ticker symbol, if any	FCOIX
Shares Outstanding Record: 3
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018796
iii. Ticker symbol, if any	FRCOX
Shares Outstanding Record: 4
i. Full name of Class	Class A
ii. Class identification number, if any	C000205908
iii. Ticker symbol, if any	FCOQX
Shares Outstanding Record: 5
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079643
iii. Ticker symbol, if any	FCOZX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,824,815
Principal Transactions Record: 2
i. Full name of dealer	MESIROW FINANCIAL INC
ii. SEC file number	8-28816
iii. CRD number	000002764
iv. LEI, if any	549300BIV46SUHPOFE54
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	15,087,379
Principal Transactions Record: 3
i. Full name of dealer	STIFEL NICKOLAUS & CO., INC.
ii. SEC file number	8-1447
iii. CRD number	000000793
iv. LEI, if any	5WUVMA08EYG4KEUPW589
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	9,092,760
Principal Transactions Record: 4
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	92,582,450
Principal Transactions Record: 5
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	26,673,550
Principal Transactions Record: 6
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	13,619,387
Principal Transactions Record: 7
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	19,181,460
Principal Transactions Record: 8
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	14,344,975
Principal Transactions Record: 9
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-7221
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	24,200,688
Principal Transactions Record: 10
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	10,807,562

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

257,478,421

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	682,069,040
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 2
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 3
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 4
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 5
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 6
Name of institution	CITIBANK, N.A.
Line Institutions Record: 7
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 8
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 9
Name of institution	UMB BANK, N.A.
Line Institutions Record: 10
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 11
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 12
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 13
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 14
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 15
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 16
Name of institution	THE TORONTO-DOMINION BANK
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 2

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 4

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 8

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 10

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 13

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 16

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 33

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 39

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 42

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 43

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 46

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 47

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 51

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 54

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 66

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 67

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 70

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 77

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 92

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 95

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 98

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 100

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 111

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 114

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 115

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 116

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 117

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 118

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 119

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 121

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 122

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 123

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 124

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 125

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 128

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 129

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 130

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 131

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 132

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 133

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 134

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 135

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 136

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 137

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 138

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 139

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 2

Item C.1. Background information.

a. Full Name of the Fund	Franklin Ohio Tax-Free Income Fund
b. Series identication number, if any	S000006925
c. LEI	549300WYLHHD0O42HL20
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018786
iii. Ticker symbol, if any	FTOIX
Shares Outstanding Record: 2
i. Full name of Class	Class A
ii. Class identification number, if any	C000205904
iii. Ticker symbol, if any	FOHQX
Shares Outstanding Record: 3
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194366
iii. Ticker symbol, if any	FKTOX
Shares Outstanding Record: 4
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000068552
iii. Ticker symbol, if any	FROZX
Shares Outstanding Record: 5
i. Full name of Class	Class C
ii. Class identification number, if any	C000018788
iii. Ticker symbol, if any	FOITX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	LOOP CAPITAL MARKETS LLC
ii. SEC file number	8-50140
iii. CRD number	000043098
iv. LEI, if any	254900FPPM2WN90D4786
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	29,001,050
Principal Transactions Record: 2
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	27,393,850
Principal Transactions Record: 3
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	130,458,318
Principal Transactions Record: 4
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	112,980,241
Principal Transactions Record: 5
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	15,373,585
Principal Transactions Record: 6
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	44,678,653
Principal Transactions Record: 7
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	73,357,226
Principal Transactions Record: 8
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	76,010,401
Principal Transactions Record: 9
i. Full name of dealer	STIFEL NICKOLAUS & CO., INC.
ii. SEC file number	8-1447
iii. CRD number	000000793
iv. LEI, if any	5WUVMA08EYG4KEUPW589
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	30,812,162
Principal Transactions Record: 10
i. Full name of dealer	ROBERT W BAIRD & CO INC
ii. SEC file number	8-497
iii. CRD number	000008158
iv. LEI, if any	549300772UJAHRD6LO53
v. State, if applicable	WISCONSIN
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	15,462,941

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

614,912,656

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	1,511,078,767
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 2
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 3
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 4
Name of institution	CITIBANK, N.A.
Line Institutions Record: 5
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 6
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 7
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 8
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 9
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 10
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 11
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 12
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 13
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 14
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 15
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 16
Name of institution	UMB BANK, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 6

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 7

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 9

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 13

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 18

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 38

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 39

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 42

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 46

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 47

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 50

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 51

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 55

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 65

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 67

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 69

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 72

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 91

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 92

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 95

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 96

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 112

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 113

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 114

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 115

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 116

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 117

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 119

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 121

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 122

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 123

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 124

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 126

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 127

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 128

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 129

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 130

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 131

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 132

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 133

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 134

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 135

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 136

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 137

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 138

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 139

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 3

Item C.1. Background information.

a. Full Name of the Fund	Franklin Georgia Tax-Free Income Fund
b. Series identication number, if any	S000006912
c. LEI	54930086ME0CMZ6PHE73
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194354
iii. Ticker symbol, if any	FGFQX
Shares Outstanding Record: 2
i. Full name of Class	Class A
ii. Class identification number, if any	C000205893
iii. Ticker symbol, if any	FGAQX
Shares Outstanding Record: 3
i. Full name of Class	Class C
ii. Class identification number, if any	C000018756
iii. Ticker symbol, if any	FGAIX
Shares Outstanding Record: 4
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000173666
iii. Ticker symbol, if any	FGFZX
Shares Outstanding Record: 5
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018755
iii. Ticker symbol, if any	FTGAX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	4,132,000.00
Principal Transactions Record: 2
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	10,974,364.00
Principal Transactions Record: 3
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,147,210.00
Principal Transactions Record: 4
i. Full name of dealer	FTN FINANCIAL SECURITIES CORP
ii. SEC file number	8-51393
iii. CRD number	000046346
iv. LEI, if any	COOWI3L2W9TPYR3WJX37
v. State, if applicable	TENNESSEE
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	7,556,500.00
Principal Transactions Record: 5
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC RBC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	U4ONQX15J3RO8XCKE979
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	9,507,628.00
Principal Transactions Record: 6
i. Full name of dealer	STIFEL NICKOLAUS & CO., INC.
ii. SEC file number	8-1447
iii. CRD number	000000793
iv. LEI, if any	5WUVMA08EYG4KEUPW589
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	11,001,720.00
Principal Transactions Record: 7
i. Full name of dealer	ROBERT W BAIRD & CO INC
ii. SEC file number	8-497
iii. CRD number	000008158
iv. LEI, if any	549300772UJAHRD6LO53
v. State, if applicable	WISCONSIN
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	9,546,000.00
Principal Transactions Record: 8
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	13,688,613.00
Principal Transactions Record: 9
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	28,052,560.00
Principal Transactions Record: 10
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	63,562,989.00

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

170,829,656.0000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	475,911,126.00
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 2
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 3
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 4
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 5
Name of institution	THE BANK OF NOVA SCOTIA
Line Institutions Record: 6
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 7
Name of institution	CITIBANK, N.A.
Line Institutions Record: 8
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 9
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 10
Name of institution	UMB BANK, N.A.
Line Institutions Record: 11
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 12
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 13
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 14
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 15
Name of institution	JPMORGAN CHASE BANK, N.A.
Line Institutions Record: 16
Name of institution	DEUTSCHE BANK AG
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 3

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 5

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 6

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 8

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 12

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 19

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 32

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 34

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 36

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 38

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 39

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 40

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 43

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 45

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 47

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 49

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 50

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 51

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 53

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 62

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 63

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 66

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 72

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 92

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 95

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 97

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 100

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 112

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 113

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 114

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 115

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 116

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 117

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 119

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 120

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 121

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 122

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 123

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 124

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 125

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 128

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 129

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 132

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 133

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 134

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 135

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 136

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 137

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 138

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 139

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 4

Item C.1. Background information.

a. Full Name of the Fund	Franklin Alabama Tax-Free Income Fund
b. Series identication number, if any	S000006911
c. LEI	54930054I1F62XK86784
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018753
iii. Ticker symbol, if any	FRALX
Shares Outstanding Record: 2
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194353
iii. Ticker symbol, if any	FALRX
Shares Outstanding Record: 3
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000173665
iii. Ticker symbol, if any	FALZX
Shares Outstanding Record: 4
i. Full name of Class	Class C
ii. Class identification number, if any	C000018754
iii. Ticker symbol, if any	FALEX
Shares Outstanding Record: 5
i. Full name of Class	Class A
ii. Class identification number, if any	C000205892
iii. Ticker symbol, if any	FALQX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	13,960,910.00000000
Principal Transactions Record: 2
i. Full name of dealer	BANC ONE SECURITIES CORP
ii. SEC file number	8-34881
iii. CRD number	000016999
iv. LEI, if any	N/A
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	2,225,440.00000000
Principal Transactions Record: 3
i. Full name of dealer	FRAZER LANIER CO INC
ii. SEC file number	8-20267
iii. CRD number	000007089
iv. LEI, if any	N/A
v. State, if applicable	ALABAMA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	2,200,460.00000000
Principal Transactions Record: 4
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	9,292,989.00000000
Principal Transactions Record: 5
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC RBC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	U4ONQX15J3RO8XCKE979
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	773,961.00000000
Principal Transactions Record: 6
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	16,945,968.00000000
Principal Transactions Record: 7
i. Full name of dealer	STIFEL NICKOLAUS & CO., INC.
ii. SEC file number	8-1447
iii. CRD number	000000793
iv. LEI, if any	5WUVMA08EYG4KEUPW589
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,084,000.00000000
Principal Transactions Record: 8
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	2,240,680.00000000
Principal Transactions Record: 9
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	1,256,365.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

51,980,773.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	248,542,802.00
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 2
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 3
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 4
Name of institution	UMB BANK, N.A.
Line Institutions Record: 5
Name of institution	JPMORGAN CHASE BANK, N.A.
Line Institutions Record: 6
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 7
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 8
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 9
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 10
Name of institution	THE BANK OF NOVA SCOTIA
Line Institutions Record: 11
Name of institution	CITIBANK, N.A.
Line Institutions Record: 12
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 13
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 14
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 15
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 16
Name of institution	BANK OF AMERICA, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 4

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 5

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 8

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 10

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 12

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 39

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 45

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 47

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 49

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 50

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 51

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 53

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 63

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 64

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 66

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 91

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 98

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 111

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 114

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 115

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 116

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 117

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 119

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 121

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 122

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 123

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 127

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 129

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 130

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 132

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 133

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 134

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 135

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 136

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 137

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 138

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 139

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 5

Item C.1. Background information.

a. Full Name of the Fund	Franklin Missouri Tax-Free Income Fund
b. Series identication number, if any	S000006921
c. LEI	549300BSZYIHF0BCD467
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A
ii. Class identification number, if any	C000205900
iii. Ticker symbol, if any	FMQOX
Shares Outstanding Record: 2
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018776
iii. Ticker symbol, if any	FRMOX
Shares Outstanding Record: 3
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079638
iii. Ticker symbol, if any	FRMZX
Shares Outstanding Record: 4
i. Full name of Class	Class C
ii. Class identification number, if any	C000018777
iii. Ticker symbol, if any	FMOIX
Shares Outstanding Record: 5
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194362
iii. Ticker symbol, if any	FMOQX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	42,981,227.00000000
Principal Transactions Record: 2
i. Full name of dealer	STERN BROTHERS AND CO
ii. SEC file number	8-33724
iii. CRD number	000016325
iv. LEI, if any	N/A
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	19,910,000.00000000
Principal Transactions Record: 3
i. Full name of dealer	STIFEL NICKOLAUS & CO., INC.
ii. SEC file number	8-1447
iii. CRD number	000000793
iv. LEI, if any	5WUVMA08EYG4KEUPW589
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	49,229,255.00000000
Principal Transactions Record: 4
i. Full name of dealer	MESIROW FINANCIAL INC
ii. SEC file number	8-28816
iii. CRD number	000002764
iv. LEI, if any	549300BIV46SUHPOFE54
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,753,419.00000000
Principal Transactions Record: 5
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	61,710,476.00000000
Principal Transactions Record: 6
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	32,846,226.00000000
Principal Transactions Record: 7
i. Full name of dealer	BAUM GEORGE K AND CO.
ii. SEC file number	8-47195
iii. CRD number	000036354
iv. LEI, if any	N/A
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	21,395,008.00000000
Principal Transactions Record: 8
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	26,594,250.00000000
Principal Transactions Record: 9
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	N/A
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,313,760.00000000
Principal Transactions Record: 10
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	52,400,000.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

355,690,944.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	985,059,315
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	UMB BANK, N.A.
Line Institutions Record: 2
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 3
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 4
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 5
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 6
Name of institution	CITIBANK, N.A.
Line Institutions Record: 7
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 8
Name of institution	HSBC BANK US, N.A.
Line Institutions Record: 9
Name of institution	THE BANK OF NOVA SCOTIA
Line Institutions Record: 10
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 11
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 12
Name of institution	JPMORGAN CHASE BANK, N.A.
Line Institutions Record: 13
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 14
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 15
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 16
Name of institution	STANDARD CHARTERED BANK
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 2

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 9

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 10

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 11

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 39

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 43

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 47

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 49

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 50

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 51

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 53

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 60

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 63

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 65

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 68

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 92

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 93

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 98

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 112

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 113

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 114

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 115

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 116

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 117

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 118

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 119

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 120

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 121

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 122

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 123

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 125

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 127

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 129

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 132

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 133

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 134

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 135

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 136

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 137

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 138

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 139

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 6

Item C.1. Background information.

a. Full Name of the Fund	Franklin Federal Intermediate-Term Tax-Free Income Fund
b. Series identication number, if any	S000006932
c. LEI	549300EKU3ZFFWEI1I28
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A
ii. Class identification number, if any	C000205910
iii. Ticker symbol, if any	FKQTX
Shares Outstanding Record: 2
i. Full name of Class	Class C
ii. Class identification number, if any	C000018803
iii. Ticker symbol, if any	FCITX
Shares Outstanding Record: 3
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018802
iii. Ticker symbol, if any	FKITX
Shares Outstanding Record: 4
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194372
iii. Ticker symbol, if any	FITQX
Shares Outstanding Record: 5
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000074134
iii. Ticker symbol, if any	FITZX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.0000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	289,507,167.00000000
Principal Transactions Record: 2
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	57,528,064.00000000
Principal Transactions Record: 3
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	80,742,543.00000000
Principal Transactions Record: 4
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	59,126,174.00000000
Principal Transactions Record: 5
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	134,598,338.00000000
Principal Transactions Record: 6
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	64,190,037.00000000
Principal Transactions Record: 7
i. Full name of dealer	SUNTRUST CAPITAL MARKETS INC.
ii. SEC file number	8-47518
iii. CRD number	000036888
iv. LEI, if any	N/A
v. State, if applicable	GEORGIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	97,750,000.00000000
Principal Transactions Record: 8
i. Full name of dealer	TD SECURITIES (USA) INC
ii. SEC file number	8-36747
iii. CRD number	000018476
iv. LEI, if any	5493006RJSLS5DA4PD75
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	94,960,000.00000000
Principal Transactions Record: 9
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	148,882,496.00000000
Principal Transactions Record: 10
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC RBC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	N/A
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	85,470,000.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

1,261,202,347.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	3,752,746,440
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 2
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 3
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 4
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 5
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 6
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 7
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 8
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 9
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 10
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 11
Name of institution	UMB BANK, N.A.
Line Institutions Record: 12
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 13
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 14
Name of institution	CITIBANK, N.A.
Line Institutions Record: 15
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 16
Name of institution	ROYAL BANK OF CANADA
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 4

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 5

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 7

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 8

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 34

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 36

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 37

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 38

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 39

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 41

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 45

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 47

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 49

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 50

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 51

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 65

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 68

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 70

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 80

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 93

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 95

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 96

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 98

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 99

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 112

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 114

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 115

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 116

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 117

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 118

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 119

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 120

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 121

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 122

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 123

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 128

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 129

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 131

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 132

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 133

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 134

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 135

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 136

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 137

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 138

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 139

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-23124

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 7

Item C.1. Background information.

a. Full Name of the Fund	Franklin Louisiana Tax-Free Income Fund
b. Series identication number, if any	S000006916
c. LEI	549300B01PP1PIPE6I55
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class C
ii. Class identification number, if any	C000018766
iii. Ticker symbol, if any	FLAIX
Shares Outstanding Record: 2
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018765
iii. Ticker symbol, if any	FKLAX
Shares Outstanding Record: 3
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194357
iii. Ticker symbol, if any	FLAQX
Shares Outstanding Record: 4
i. Full name of Class	Class A
ii. Class identification number, if any	C000205895
iii. Ticker symbol, if any	FQLAX
Shares Outstanding Record: 5
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000173668
iii. Ticker symbol, if any	FLTZX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	STIFEL NICKOLAUS & CO., INC.
ii. SEC file number	8-1447
iii. CRD number	000000793
iv. LEI, if any	5WUVMA08EYG4KEUPW589
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	4,877,777
Principal Transactions Record: 2
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,332,250
Principal Transactions Record: 3
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	6,533,890
Principal Transactions Record: 4
i. Full name of dealer	JEFFERIES & CO INC
ii. SEC file number	8-15074
iii. CRD number	000002347
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	12,527,642
Principal Transactions Record: 5
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC RBC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	N/A
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	9,602,460
Principal Transactions Record: 6
i. Full name of dealer	STEPHENS INC.
ii. SEC file number	8-1927
iii. CRD number	000003496
iv. LEI, if any	213800LH6T9XDYZCA534
v. State, if applicable	ARKANSAS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,039,500
Principal Transactions Record: 7
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	77,822,925
Principal Transactions Record: 8
i. Full name of dealer	LOOP CAPITAL MARKETS LLC
ii. SEC file number	8-50140
iii. CRD number	000043098
iv. LEI, if any	254900FPPM2WN90D4786
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,905,830
Principal Transactions Record: 9
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	N/A
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	6,772,624
Principal Transactions Record: 10
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	GGDZP1UYGU9STUHRDP48
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	9,061,370

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

147,609,596

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	380,379,865
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	CITIBANK, N.A.
Line Institutions Record: 2
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 3
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 4
Name of institution	THE BANK OF NOVA SCOTIA
Line Institutions Record: 5
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 6
Name of institution	HSBC BANK US, N.A.
Line Institutions Record: 7
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 8
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 9
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 10
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 11
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 12
Name of institution	JPMORGAN CHASE BANK, N.A.
Line Institutions Record: 13
Name of institution	UMB BANK, N.A.
Line Institutions Record: 14
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 15
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 16
Name of institution	THE BANK OF NEW YORK MELLON
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 2

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 3

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 4

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 5

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 6

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 7

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 8

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 9

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 10

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 11

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 12

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 13

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 14

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 15

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 16

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 17

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 18

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 19

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 20

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 32

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 33

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 34

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 35

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 36

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 37

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 38

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 39

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 40

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 41

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 42

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 43

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 44

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 45

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 47

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 49

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 50

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 51

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 54

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 55

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 56

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 59

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 60

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 61

Name of fund	Franklin New York Intermediate Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 62

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 63

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin New York Tax Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 65

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 66

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 67

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 68

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 69

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 70

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 71

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 73

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 75

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 76

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 77

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 78

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 80

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 81

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 92

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 94

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 96

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 97

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 98

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 100

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 101

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 112

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 113

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 114

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 115

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 116

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 117

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 119

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 120

Name of fund	Franklin Small Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 121

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 122

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 123

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 124

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 127

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 128

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 129

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 130

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 131

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 132

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 133

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 134

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 135

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 136

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 137

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 138

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 139

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 8

Item C.1. Background information.

a. Full Name of the Fund	Franklin Virginia Tax-Free Income Fund
b. Series identication number, if any	S000006928
c. LEI	54930067KGTNTPDY2Z09
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A
ii. Class identification number, if any	C000205907
iii. Ticker symbol, if any	FVAQX
Shares Outstanding Record: 2
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018794
iii. Ticker symbol, if any	FRVAX
Shares Outstanding Record: 3
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079642
iii. Ticker symbol, if any	FRVZX
Shares Outstanding Record: 4
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194369
iii. Ticker symbol, if any	FRVRX
Shares Outstanding Record: 5
i. Full name of Class	Class C
ii. Class identification number, if any	C000018795
iii. Ticker symbol, if any	FVAIX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	40,005,665.00000000
Principal Transactions Record: 2
i. Full name of dealer	ZIONS FIRST NATIONAL BANK
ii. SEC file number	8-35721
iii. CRD number	000017776
iv. LEI, if any	N/A
v. State, if applicable	UTAH
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	6,509,809.00000000
Principal Transactions Record: 3
i. Full name of dealer	GREAT PACIFIC MANAGEMENT
ii. SEC file number	8-44398
iii. CRD number	000029251
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,030,550.00000000
Principal Transactions Record: 4
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	7,907,775.00000000
Principal Transactions Record: 5
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	N/A
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	15,938,840.00000000
Principal Transactions Record: 6
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	GGDZP1UYGU9STUHRDP48
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	6,509,007.00000000
Principal Transactions Record: 7
i. Full name of dealer	LOOP CAPITAL MARKETS LLC
ii. SEC file number	8-50140
iii. CRD number	000043098
iv. LEI, if any	254900FPPM2WN90D4786
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	11,645,200.00000000
Principal Transactions Record: 8
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	24,091,598.00000000
Principal Transactions Record: 9
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC RBC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	N/A
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	13,809,639.00000000
Principal Transactions Record: 10
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,030,100.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

156,380,833.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	604,598,762
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	JPMORGAN CHASE BANK, N.A.
Line Institutions Record: 2
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 3
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 4
Name of institution	THE BANK OF NOVA SCOTIA
Line Institutions Record: 5
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 6
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 7
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 8
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 9
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 10
Name of institution	CITIBANK, N.A.
Line Institutions Record: 11
Name of institution	HSBC BANK US, N.A.
Line Institutions Record: 12
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 13
Name of institution	UMB BANK, N.A.
Line Institutions Record: 14
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 15
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 16
Name of institution	BARCLAYS BANK PLC
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 2

Name of fund	Franklin California Tax Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 3

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 4

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 5

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 6

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 7

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 8

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 9

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 10

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 11

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 12

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 13

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 14

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 15

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 16

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 18

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 19

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 20

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 21

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 32

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 33

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 34

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 35

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 36

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 37

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 38

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 39

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 41

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 42

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 43

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 45

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 47

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 48

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 49

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 50

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 51

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 54

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 55

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 56

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 57

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 58

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 59

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 62

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 63

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 64

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 65

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 66

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 67

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin New York Intermediate-Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 69

Name of fund	Franklin New York Tax Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 70

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 71

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 72

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 73

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 74

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 76

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 77

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 79

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 81

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 92

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 94

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 95

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 96

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 97

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 98

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 100

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 101

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 112

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 113

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 114

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 115

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 116

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 117

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 118

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 119

Name of fund	Franklin Small Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 120

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 121

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 122

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 123

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 124

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 126

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 127

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 129

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 130

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 131

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 132

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 133

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 134

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 135

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 136

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 137

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 138

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 139

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 9

Item C.1. Background information.

a. Full Name of the Fund	Franklin High Yield Tax-Free Income Fund
b. Series identication number, if any	S000006913
c. LEI	549300VNA321FWWAAQ57
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	1
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class C
ii. Class identification number, if any	C000018760
iii. Ticker symbol, if any	FHYIX
Shares Outstanding Record: 2
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018758
iii. Ticker symbol, if any	FRHIX
Shares Outstanding Record: 3
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000018757
iii. Ticker symbol, if any	FHYVX
Shares Outstanding Record: 4
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194355
iii. Ticker symbol, if any	FHYRX
Shares Outstanding Record: 5
i. Full name of Class	Class A
ii. Class identification number, if any	C000199703
iii. Ticker symbol, if any	FHYQX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	114,303,548
Principal Transactions Record: 2
i. Full name of dealer	TD SECURITIES (USA) INC
ii. SEC file number	8-36747
iii. CRD number	000018476
iv. LEI, if any	5493006RJSLS5DA4PD75
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	89,300,000
Principal Transactions Record: 3
i. Full name of dealer	B C ZIEGLER AND CO
ii. SEC file number	8-94
iii. CRD number	000000061
iv. LEI, if any	N/A
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	84,067,238
Principal Transactions Record: 4
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	124,035,961
Principal Transactions Record: 5
i. Full name of dealer	JEFFERIES & CO INC
ii. SEC file number	8-15074
iii. CRD number	000002347
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	120,641,505
Principal Transactions Record: 6
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	335,348,127
Principal Transactions Record: 7
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	124,070,868
Principal Transactions Record: 8
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	334,493,372
Principal Transactions Record: 9
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	133,378,888
Principal Transactions Record: 10
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC RBC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	N/A
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	169,205,390

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

1,930,138,245

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	6,407,568,752
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 2
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 3
Name of institution	UMB BANK, N.A.
Line Institutions Record: 4
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 5
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 6
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 7
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 8
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 9
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 10
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 11
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 12
Name of institution	CITIBANK, N.A.
Line Institutions Record: 13
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 14
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 15
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 16
Name of institution	THE TORONTO-DOMINION BANK
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 2

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 3

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 8

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 9

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 39

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 43

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 45

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 47

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 49

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 51

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 56

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 64

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 67

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 68

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 78

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 92

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 93

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 96

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 97

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 98

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 111

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 112

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 114

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 115

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 116

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 117

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 118

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 119

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 121

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 122

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 123

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 124

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 125

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 127

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 129

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 131

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 132

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 133

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 134

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 135

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 136

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 137

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 138

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 139

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 10

Item C.1. Background information.

a. Full Name of the Fund	Franklin Maryland Tax-Free Income Fund
b. Series identication number, if any	S000006917
c. LEI	5493004RAW8FG3PMDF33
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A
ii. Class identification number, if any	C000205896
iii. Ticker symbol, if any	FQMDX
Shares Outstanding Record: 2
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079635
iii. Ticker symbol, if any	FMDZX
Shares Outstanding Record: 3
i. Full name of Class	Class C
ii. Class identification number, if any	C000018768
iii. Ticker symbol, if any	FMDIX
Shares Outstanding Record: 4
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018767
iii. Ticker symbol, if any	FMDTX
Shares Outstanding Record: 5
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194358
iii. Ticker symbol, if any	FMDQX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	16,526,600
Principal Transactions Record: 2
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	GGDZP1UYGU9STUHRDP48
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	18,762,782
Principal Transactions Record: 3
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,025,950
Principal Transactions Record: 4
i. Full name of dealer	M & T SECURITIES INC
ii. SEC file number	8-35185
iii. CRD number	000017358
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	4,099,761
Principal Transactions Record: 5
i. Full name of dealer	LOOP CAPITAL MARKETS LLC
ii. SEC file number	8-50140
iii. CRD number	000043098
iv. LEI, if any	254900FPPM2WN90D4786
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,563,850
Principal Transactions Record: 6
i. Full name of dealer	TD SECURITIES (USA) INC
ii. SEC file number	8-36747
iii. CRD number	000018476
iv. LEI, if any	5493006RJSLS5DA4PD75
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	10,210,000
Principal Transactions Record: 7
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	N/A
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,568,070
Principal Transactions Record: 8
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	2,603,995
Principal Transactions Record: 9
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	15,036,020
Principal Transactions Record: 10
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	40,021,187

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

127,016,325

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	428,548,840
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 2
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 3
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 4
Name of institution	JPMORGAN CHASE BANK,N.A.
Line Institutions Record: 5
Name of institution	CITIBANK, N.A.
Line Institutions Record: 6
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 7
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 8
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 9
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 10
Name of institution	THE BANK OF NEWYORK MELLON
Line Institutions Record: 11
Name of institution	HSBC BANK US, N.A.
Line Institutions Record: 12
Name of institution	UMB BANK, N.A.
Line Institutions Record: 13
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 14
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 15
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 16
Name of institution	THE BANK OF NOVA SCOTIA
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 2

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 3

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 7

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 9

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 19

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 33

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 34

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 36

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 38

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 39

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 41

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 43

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 47

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 49

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 50

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 51

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 53

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 65

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 66

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 68

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 92

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 93

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 94

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 95

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 96

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 111

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 114

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 115

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 116

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 117

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 118

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 119

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 120

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 121

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 122

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 123

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 124

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 129

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 131

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 132

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 133

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 134

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 135

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 136

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 137

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 138

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 139

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 11

Item C.1. Background information.

a. Full Name of the Fund	Franklin Oregon Tax-Free Income Fund
b. Series identication number, if any	S000006926
c. LEI	549300OAFBSSULD06N68
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079640
iii. Ticker symbol, if any	FOFZX
Shares Outstanding Record: 2
i. Full name of Class	Class A
ii. Class identification number, if any	C000205905
iii. Ticker symbol, if any	FOFQX
Shares Outstanding Record: 3
i. Full name of Class	Class C
ii. Class identification number, if any	C000018790
iii. Ticker symbol, if any	FORIX
Shares Outstanding Record: 4
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018789
iii. Ticker symbol, if any	FRORX
Shares Outstanding Record: 5
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194367
iii. Ticker symbol, if any	FOFRX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	DAVIDSON DA
ii. SEC file number	8-2399
iii. CRD number	000000199
iv. LEI, if any	5493000Q7UQ4RW1D1514
v. State, if applicable	MONTANA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,579,888.00000000
Principal Transactions Record: 2
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	13,473,188.00000000
Principal Transactions Record: 3
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	69,779,357.00000000
Principal Transactions Record: 4
i. Full name of dealer	MESIROW FINANCIAL INC
ii. SEC file number	8-28816
iii. CRD number	000002764
iv. LEI, if any	549300BIV46SUHPOFE54
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,868,361.00000000
Principal Transactions Record: 5
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	36,385,315.00000000
Principal Transactions Record: 6
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	17,917,027.00000000
Principal Transactions Record: 7
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	42,393,922.00000000
Principal Transactions Record: 8
i. Full name of dealer	B C ZIEGLER AND CO
ii. SEC file number	8-94
iii. CRD number	000000061
iv. LEI, if any	549300NLEOFP92P38Q71
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	7,464,737.00000000
Principal Transactions Record: 9
i. Full name of dealer	TD SECURITIES (USA) INC
ii. SEC file number	8-36747
iii. CRD number	000018476
iv. LEI, if any	5493006RJSLS5DA4PD75
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	47,650,000.00000000
Principal Transactions Record: 10
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	4,431,177.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

249,939,100.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	1,181,426,858
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 2
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 3
Name of institution	UMB BANK, N.A.
Line Institutions Record: 4
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 5
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 6
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 7
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 8
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 9
Name of institution	CITIBANK, N.A.
Line Institutions Record: 10
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 11
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 12
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 13
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 14
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 15
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 16
Name of institution	DEUTSCHE BANK AG
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 2

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 6

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 9

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 10

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 16

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 39

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 42

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 46

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 47

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 51

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 64

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 69

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 70

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 76

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 93

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 94

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 95

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 96

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 99

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 100

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 111

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 113

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 114

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 115

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 116

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 117

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 118

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 119

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 121

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 122

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 123

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 125

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 128

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 129

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 130

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 132

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 133

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 134

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 135

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 136

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 137

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 138

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 139

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 12

Item C.1. Background information.

a. Full Name of the Fund	Franklin Minnesota Tax-Free Income Fund
b. Series identication number, if any	S000006920
c. LEI	549300O8GXDN7BOGD980
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194361
iii. Ticker symbol, if any	FKTDX
Shares Outstanding Record: 2
i. Full name of Class	Class A
ii. Class identification number, if any	C000205899
iii. Ticker symbol, if any	FMNQX
Shares Outstanding Record: 3
i. Full name of Class	Class C
ii. Class identification number, if any	C000018775
iii. Ticker symbol, if any	FMNIX
Shares Outstanding Record: 4
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079637
iii. Ticker symbol, if any	FMNZX
Shares Outstanding Record: 5
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018774
iii. Ticker symbol, if any	FMINX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	136,055,366
Principal Transactions Record: 2
i. Full name of dealer	DOUGHERTY AND CO LLC
ii. SEC file number	8-21937
iii. CRD number	000007477
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	25,193,702
Principal Transactions Record: 3
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	6,063,650
Principal Transactions Record: 4
i. Full name of dealer	JEFFERIES & CO INC
ii. SEC file number	8-15074
iii. CRD number	000002347
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,730,600
Principal Transactions Record: 5
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	68,252,140
Principal Transactions Record: 6
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	62,693,851
Principal Transactions Record: 7
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	48,473,403
Principal Transactions Record: 8
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	70,232,612
Principal Transactions Record: 9
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	12,985,869
Principal Transactions Record: 10
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	20,311,712

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

467,717,899

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	981,991,398
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	CITIBANK, N.A.
Line Institutions Record: 2
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 3
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 4
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 5
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 6
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 7
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 8
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 9
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 10
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 11
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 12
Name of institution	UMB BANK, N.A.
Line Institutions Record: 13
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 14
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 15
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 16
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 4

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 6

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 10

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 11

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 16

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 23

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 25

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 27

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 30

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 31

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 32

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 33

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 34

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 35

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 36

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 37

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 38

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 39

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 40

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 41

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 42

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 43

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 44

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 45

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 46

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 47

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 48

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 49

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 50

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 51

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 52

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 53

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 54

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 55

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 56

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 57

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 58

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 59

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 60

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 61

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 62

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 63

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 64

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 65

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 66

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 67

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 68

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 69

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 70

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 71

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 81

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 84

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 85

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 86

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 87

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 88

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 90

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 93

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 95

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 101

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 102

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 103

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 105

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 106

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 108

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 110

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 111

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 112

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 113

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 114

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 115

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 116

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 117

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 118

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 119

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 120

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 121

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 122

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 123

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 124

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 125

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 126

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 127

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 128

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 129

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 130

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 131

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 132

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 133

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 134

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 135

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 136

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 137

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 138

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 139

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 13

Item C.1. Background information.

a. Full Name of the Fund	Franklin Kentucky Tax-Free Income Fund
b. Series identication number, if any	S000006915
c. LEI	549300BEDNYHR6T0JH41
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	4
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000173667
iii. Ticker symbol, if any	FKTZX
Shares Outstanding Record: 2
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194356
iii. Ticker symbol, if any	FKTRX
Shares Outstanding Record: 3
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018764
iii. Ticker symbol, if any	FRKYX
Shares Outstanding Record: 4
i. Full name of Class	Class A
ii. Class identification number, if any	C000205894
iii. Ticker symbol, if any	FRKQX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	2,721,325.00000000
Principal Transactions Record: 2
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	24,311,620.00000000
Principal Transactions Record: 3
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,187,200.00000000
Principal Transactions Record: 4
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	1,121,270.00000000
Principal Transactions Record: 5
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,049,411.00000000
Principal Transactions Record: 6
i. Full name of dealer	HILLIARD JJB LYONS WL
ii. SEC file number	8-33133
iii. CRD number	000000453
iv. LEI, if any	254900HZY78ZQW2G2X35
v. State, if applicable	KENTUCKY
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,043,850.00000000
Principal Transactions Record: 7
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	4,386,301.00000000
Principal Transactions Record: 8
i. Full name of dealer	VINING SPARKS
ii. SEC file number	8-43150
iii. CRD number	000027502
iv. LEI, if any	549300H04PWWUXKL2929
v. State, if applicable	TENNESSEE
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	1,143,390.00000000
Principal Transactions Record: 9
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC RBC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	U4ONQX15J3RO8XCKE979
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	15,882,139.00000000
Principal Transactions Record: 10
i. Full name of dealer	HUTCHINSON SHOCKEY ERLEY
ii. SEC file number	8-5761
iii. CRD number	000002261
iv. LEI, if any	N/A
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,226,036.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

73,164,892.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	151,519,787
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 2
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 3
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 4
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 5
Name of institution	JPMORGAN CHASE BANK, N.A.
Line Institutions Record: 6
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 7
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 8
Name of institution	THE BANK OF NOVA SCOTIA
Line Institutions Record: 9
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 10
Name of institution	UMB BANK, N.A.
Line Institutions Record: 11
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 12
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 13
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 14
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 15
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 16
Name of institution	CITIBANK, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 2

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 8

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 9

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 11

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 32

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 33

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 34

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 36

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 38

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 39

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 42

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 46

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 47

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 51

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 52

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 54

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 63

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 64

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 68

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 76

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 93

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 94

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 95

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 97

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 98

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 112

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 114

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 115

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 116

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 117

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 119

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 121

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 122

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 123

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 124

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 127

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 129

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 130

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 131

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 132

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 133

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 134

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 135

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 136

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 137

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 138

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 139

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 14

Item C.1. Background information.

a. Full Name of the Fund	Franklin Pennsylvania Tax-Free Income Fund
b. Series identication number, if any	S000006927
c. LEI	549300R0TTPG7IDXZS18
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A
ii. Class identification number, if any	C000205906
iii. Ticker symbol, if any	FPAQX
Shares Outstanding Record: 2
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018791
iii. Ticker symbol, if any	FRPAX
Shares Outstanding Record: 3
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079641
iii. Ticker symbol, if any	FPFZX
Shares Outstanding Record: 4
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194368
iii. Ticker symbol, if any	FRPRX
Shares Outstanding Record: 5
i. Full name of Class	Class C
ii. Class identification number, if any	C000018793
iii. Ticker symbol, if any	FRPTX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	78,282,641
Principal Transactions Record: 2
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	17,941,386
Principal Transactions Record: 3
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	41,455,474
Principal Transactions Record: 4
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,656,014
Principal Transactions Record: 5
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	24,609,080
Principal Transactions Record: 6
i. Full name of dealer	MESIROW FINANCIAL INC
ii. SEC file number	8-28816
iii. CRD number	000002764
iv. LEI, if any	549300BIV46SUHPOFE54
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	10,833,156
Principal Transactions Record: 7
i. Full name of dealer	GREAT PACIFIC MANAGEMENT
ii. SEC file number	8-44398
iii. CRD number	000029251
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	11,007,805
Principal Transactions Record: 8
i. Full name of dealer	PNC CAPITAL MARKETS INC
ii. SEC file number	8-32493
iii. CRD number	000015647
iv. LEI, if any	7OGNSSLOQJ8U3B9Y5F18
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	18,622,814
Principal Transactions Record: 9
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,307,030
Principal Transactions Record: 10
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,531,200

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

262,433,792

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	1,131,942,964
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	UMB BANK, N.A.
Line Institutions Record: 2
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 3
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 4
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 5
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 6
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 7
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 8
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 9
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 10
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 11
Name of institution	CITIBANK, N.A.
Line Institutions Record: 12
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 13
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 14
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 15
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 16
Name of institution	HSBC BANK USA, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 3

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 6

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 7

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 8

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 15

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 20

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 33

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 34

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 36

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 39

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 40

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 41

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 42

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 46

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 47

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 48

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 51

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 54

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 63

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 65

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 67

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 74

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 92

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 93

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 98

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 111

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 112

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 113

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 114

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 115

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 116

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 117

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 118

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 119

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 121

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 122

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 123

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 124

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 127

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 129

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 131

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 132

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 133

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 134

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 135

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 136

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 137

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 138

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 139

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 15

Item C.1. Background information.

a. Full Name of the Fund	Franklin Arizona Tax-Free Income Fund
b. Series identication number, if any	S000006922
c. LEI	549300L4ECCV9MH8X830
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000068550
iii. Ticker symbol, if any	FAZZX
Shares Outstanding Record: 2
i. Full name of Class	Class A
ii. Class identification number, if any	C000205901
iii. Ticker symbol, if any	FAZQX
Shares Outstanding Record: 3
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018778
iii. Ticker symbol, if any	FTAZX
Shares Outstanding Record: 4
i. Full name of Class	Class C
ii. Class identification number, if any	C000018780
iii. Ticker symbol, if any	FAZIX
Shares Outstanding Record: 5
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194363
iii. Ticker symbol, if any	FAZRX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	15,153,448
Principal Transactions Record: 2
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC RBC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	U4ONQX15J3RO8XCKE979
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	48,619,884
Principal Transactions Record: 3
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	89,918,450
Principal Transactions Record: 4
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	16,822,191
Principal Transactions Record: 5
i. Full name of dealer	LOOP CAPITAL MARKETS LLC
ii. SEC file number	8-50140
iii. CRD number	000043098
iv. LEI, if any	254900FPPM2WN90D4786
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	23,277,100
Principal Transactions Record: 6
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	14,122,576
Principal Transactions Record: 7
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	30,542,919
Principal Transactions Record: 8
i. Full name of dealer	STIFEL NICKOLAUS & CO., INC.
ii. SEC file number	8-1447
iii. CRD number	000000793
iv. LEI, if any	5WUVMA08EYG4KEUPW589
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	11,619,529
Principal Transactions Record: 9
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	35,998,565
Principal Transactions Record: 10
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	180,624,920

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

503,868,957

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	903,666,782
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 2
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 3
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 4
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 5
Name of institution	UMB BANK, N.A.
Line Institutions Record: 6
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 7
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 8
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 9
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 10
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 11
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 12
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 13
Name of institution	CITIBANK, N.A.
Line Institutions Record: 14
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 15
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 16
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 4

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 5

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 9

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 10

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 33

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 36

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 38

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 39

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 40

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 43

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 45

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 47

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 50

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 51

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 53

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 56

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 64

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 67

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 71

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 76

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 95

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 97

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 98

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 100

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 111

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 114

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 115

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 116

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 117

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 119

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 120

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 121

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 122

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 123

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 124

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 127

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 128

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 129

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 131

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 132

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 133

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 134

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 135

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 136

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 137

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 138

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 139

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 16

Item C.1. Background information.

a. Full Name of the Fund	Franklin North Carolina Tax-Free Income Fund
b. Series identication number, if any	S000006924
c. LEI	549300QZWHCXM9J5TR59
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class C
ii. Class identification number, if any	C000018785
iii. Ticker symbol, if any	FNCIX
Shares Outstanding Record: 2
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079639
iii. Ticker symbol, if any	FNCZX
Shares Outstanding Record: 3
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194365
iii. Ticker symbol, if any	FNCQX
Shares Outstanding Record: 4
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018784
iii. Ticker symbol, if any	FXNCX
Shares Outstanding Record: 5
i. Full name of Class	Class A
ii. Class identification number, if any	C000205903
iii. Ticker symbol, if any	FQNCX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	FTN FINANCIAL SECURITIES CORP
ii. SEC file number	8-51393
iii. CRD number	000046346
iv. LEI, if any	COOWI3L2W9TPYR3WJX37
v. State, if applicable	TENNESSEE
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,436,615
Principal Transactions Record: 2
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	12,471,800
Principal Transactions Record: 3
i. Full name of dealer	TD SECURITIES (USA) INC
ii. SEC file number	8-36747
iii. CRD number	000018476
iv. LEI, if any	5493006RJSLS5DA4PD75
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	25,000,000
Principal Transactions Record: 4
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	12,306,465
Principal Transactions Record: 5
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	GGDZP1UYGU9STUHRDP48
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	67,894,730
Principal Transactions Record: 6
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	150,837,225
Principal Transactions Record: 7
i. Full name of dealer	LOOP CAPITAL MARKETS LLC
ii. SEC file number	8-50140
iii. CRD number	000043098
iv. LEI, if any	254900FPPM2WN90D4786
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	9,072,160
Principal Transactions Record: 8
i. Full name of dealer	GREAT PACIFIC MANAGEMENT
ii. SEC file number	8-44398
iii. CRD number	000029251
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	12,857,986
Principal Transactions Record: 9
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,064,700
Principal Transactions Record: 10
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	104,859,242

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

416,102,050

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	855,469,293
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	UMB BANK, N.A.
Line Institutions Record: 2
Name of institution	THE BANK OF NOVA SCOTIA
Line Institutions Record: 3
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 4
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 5
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 6
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 7
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 8
Name of institution	JPMORGAN CHASE BANK, N.A.
Line Institutions Record: 9
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 10
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 11
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 12
Name of institution	CITIBANK, N.A.
Line Institutions Record: 13
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 14
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 15
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 16
Name of institution	HSBC BANK US, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 3

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 8

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 9

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 10

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 37

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 39

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 42

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 45

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 46

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 47

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 51

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 53

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 57

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 62

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 70

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 71

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 72

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 96

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 99

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 111

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 112

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 113

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 114

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 115

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 116

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 117

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 119

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 121

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 122

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 123

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 124

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 125

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 129

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 131

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 132

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 133

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 134

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 135

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 136

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 137

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 138

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 139

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 17

Item C.1. Background information.

a. Full Name of the Fund	Franklin Connecticut Tax-Free Income Fund
b. Series identication number, if any	S000006930
c. LEI	549300Q26QWL1VWSV188
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079644
iii. Ticker symbol, if any	FCNZX
Shares Outstanding Record: 2
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018798
iii. Ticker symbol, if any	FXCTX
Shares Outstanding Record: 3
i. Full name of Class	Class C
ii. Class identification number, if any	C000018799
iii. Ticker symbol, if any	FCTIX
Shares Outstanding Record: 4
i. Full name of Class	Class A
ii. Class identification number, if any	C000205909
iii. Ticker symbol, if any	FQCTX
Shares Outstanding Record: 5
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194371
iii. Ticker symbol, if any	FCTQX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.0000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	16,489,143
Principal Transactions Record: 2
i. Full name of dealer	UBS SECURITIES LLC
ii. SEC file number	8-22651
iii. CRD number	000007654
iv. LEI, if any	T6FIZBDPKLYJKFCRVK44
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	2,625,900
Principal Transactions Record: 3
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,321,000
Principal Transactions Record: 4
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	20,078,910
Principal Transactions Record: 5
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,518,485
Principal Transactions Record: 6
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	18,265,531
Principal Transactions Record: 7
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	2,245,480
Principal Transactions Record: 8
i. Full name of dealer	US BANK NATIONAL ASSOCIATION
ii. SEC file number	8-35359
iii. CRD number	000017868
iv. LEI, if any	6BYL5QZYBDK8S7L73M02
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,029,115
Principal Transactions Record: 9
i. Full name of dealer	B C ZIEGLER AND CO
ii. SEC file number	8-94
iii. CRD number	000000061
iv. LEI, if any	N/A
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	4,236,480
Principal Transactions Record: 10
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,955,835

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

90,220,020

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	235,638,165
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 2
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 3
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 4
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 5
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 6
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 7
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 8
Name of institution	UMB BANK, N.A.
Line Institutions Record: 9
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 10
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 11
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 12
Name of institution	CITIBANK, N.A.
Line Institutions Record: 13
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 14
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 15
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 16
Name of institution	STATE STREET BANK AND TRUST COMPANY
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 3

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 6

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 8

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 10

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 16

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 19

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 32

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 35

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin NextStep Moderate Fund Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 38

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 39

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 40

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 41

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 42

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 46

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 47

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 51

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 52

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 63

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 65

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 66

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 91

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 92

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 95

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 98

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 100

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 114

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 115

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 116

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 117

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 119

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 121

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 122

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 123

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 125

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 128

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 129

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 130

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	Templeton International Climate Change
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 132

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 133

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 134

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 135

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 136

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 137

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 138

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 139

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 18

Item C.1. Background information.

a. Full Name of the Fund	Franklin Florida Tax-Free Income Fund
b. Series identication number, if any	S000006935
c. LEI	5493003WTF1ZF34G9194
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A
ii. Class identification number, if any	C000205912
iii. Ticker symbol, if any	FQFLX
Shares Outstanding Record: 2
i. Full name of Class	Class C
ii. Class identification number, if any	C000018808
iii. Ticker symbol, if any	FRFIX
Shares Outstanding Record: 3
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000173669
iii. Ticker symbol, if any	FFTZX
Shares Outstanding Record: 4
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194374
iii. Ticker symbol, if any	FRFQX
Shares Outstanding Record: 5
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018806
iii. Ticker symbol, if any	FRFLX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	20,527,550.00
Principal Transactions Record: 2
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	4,364,070.00
Principal Transactions Record: 3
i. Full name of dealer	SUNTRUST ROBINSON HUMPHREY, INC.
ii. SEC file number	8-17212
iii. CRD number	000006271
iv. LEI, if any	CSVTK36R0PNGXEM7NS14
v. State, if applicable	GEORGIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	81,700,000.00
Principal Transactions Record: 4
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	12,436,850.00
Principal Transactions Record: 5
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	21,946,400.00
Principal Transactions Record: 6
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	16,626,325.00
Principal Transactions Record: 7
i. Full name of dealer	B C ZIEGLER AND CO
ii. SEC file number	8-94
iii. CRD number	000000061
iv. LEI, if any	549300NLEOFP92P38Q71
v. State, if applicable	ILLINOIS
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	7,130,267.00
Principal Transactions Record: 8
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	9,777,900.00
Principal Transactions Record: 9
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,011,750.00
Principal Transactions Record: 10
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	27,072,197.00

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

217,506,038.00000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	592,252,035.00
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 2
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 3
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 4
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 5
Name of institution	UMB BANK, N.A.
Line Institutions Record: 6
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 7
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 8
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 9
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 10
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 11
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 12
Name of institution	THE BANK OF NOVA SCOTIA
Line Institutions Record: 13
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 14
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 15
Name of institution	JPMORGAN CHASE BANK, N.A.
Line Institutions Record: 16
Name of institution	CITIBANK, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 2

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 3

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 6

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 8

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 12

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 19

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 39

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 42

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 46

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 47

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 51

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 52

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 54

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 60

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 63

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 66

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 71

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 93

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 95

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 97

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 98

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 100

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 112

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 113

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 114

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 115

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 116

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 117

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 118

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 119

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 121

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 122

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 123

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 125

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 126

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 128

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 129

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 130

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 131

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 132

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 133

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 134

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 135

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 136

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 137

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 138

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 139

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 19

Item C.1. Background information.

a. Full Name of the Fund	Franklin Massachusetts Tax-Free Income Fund
b. Series identication number, if any	S000006918
c. LEI	549300XZPZ7F8I55V541
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000079636
iii. Ticker symbol, if any	FMAHX
Shares Outstanding Record: 2
i. Full name of Class	Class A
ii. Class identification number, if any	C000205897
iii. Ticker symbol, if any	FMAQX
Shares Outstanding Record: 3
i. Full name of Class	Class C
ii. Class identification number, if any	C000018770
iii. Ticker symbol, if any	FMAIX
Shares Outstanding Record: 4
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018769
iii. Ticker symbol, if any	FMISX
Shares Outstanding Record: 5
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194359
iii. Ticker symbol, if any	FKTMX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	10,294,990.00000000
Principal Transactions Record: 2
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	16,423,758.00000000
Principal Transactions Record: 3
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	36,307,486.00000000
Principal Transactions Record: 4
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,519,450.00000000
Principal Transactions Record: 5
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	5,492,150.00000000
Principal Transactions Record: 6
i. Full name of dealer	GMS GROUP INC
ii. SEC file number	8-23936
iii. CRD number	000008000
iv. LEI, if any	N/A
v. State, if applicable	NEW JERSEY
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	2,585,033.00000000
Principal Transactions Record: 7
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,496,031.00000000
Principal Transactions Record: 8
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMERLY BANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,104,868.00000000
Principal Transactions Record: 9
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	51,550,000.00000000
Principal Transactions Record: 10
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	20,349,631.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

165,123,397.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	443,914,389
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 2
Name of institution	UMB BANK, N.A.
Line Institutions Record: 3
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 4
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 5
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 6
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 7
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 8
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 9
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 10
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 11
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 12
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 13
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 14
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 15
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 16
Name of institution	CITIBANK, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 2

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 3

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 7

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 9

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 19

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 33

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 35

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 36

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 37

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 38

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 39

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 43

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 45

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 47

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 49

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 51

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 59

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 66

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 67

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 71

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 72

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 92

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 95

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 96

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 98

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 99

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 100

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 113

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 114

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 115

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 116

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 117

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 118

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 119

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 120

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 121

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 122

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 123

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 124

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 125

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 129

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 132

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 133

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 134

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 135

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 136

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 137

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 138

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 139

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 20

Item C.1. Background information.

a. Full Name of the Fund	Franklin Federal Limited-Term Tax-Free Income Fund
b. Series identication number, if any	S000006933
c. LEI	5493007EWSZA540FRT73
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	4
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194373
iii. Ticker symbol, if any	FFTRX
Shares Outstanding Record: 2
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000096868
iii. Ticker symbol, if any	FTFZX
Shares Outstanding Record: 3
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018804
iii. Ticker symbol, if any	FFTFX
Shares Outstanding Record: 4
i. Full name of Class	Class A
ii. Class identification number, if any	C000205911
iii. Ticker symbol, if any	FFLQX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc..
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

Brokers Record: 1
i. Full name of broker	SUSQUEHANNA FINANCIAL GROUP, LLLP
ii. SEC file number	8-44325
iii. CRD number	000035865
iv. LEI, if any	N/A
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Gross commissions paid by the Fund for the reporting period	2,363.00000000
b. Aggregate brokerage commissions paid by Fund during the reporting period:	2,363.00000000

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	102,318,805.00000000
Principal Transactions Record: 2
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	207,182,225.00000000
Principal Transactions Record: 3
i. Full name of dealer	U.S. BANCORP PIPER JAFFRAY INC.
ii. SEC file number	8-15204
iii. CRD number	000000665
iv. LEI, if any	N/A
v. State, if applicable	MINNESOTA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	89,535,743.00000000
Principal Transactions Record: 4
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	86,948,112.00000000
Principal Transactions Record: 5
i. Full name of dealer	RAYMOND JAMES & ASSOCIATES INC
ii. SEC file number	8-10999
iii. CRD number	000000705
iv. LEI, if any	N/A
v. State, if applicable	FLORIDA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	83,415,000.00000000
Principal Transactions Record: 6
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	216,610,114.00000000
Principal Transactions Record: 7
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	208,426,288.00000000
Principal Transactions Record: 8
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	67,812,335.00000000
Principal Transactions Record: 9
i. Full name of dealer	TD SECURITIES (USA) INC
ii. SEC file number	8-36747
iii. CRD number	000018476
iv. LEI, if any	5493006RJSLS5DA4PD75
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	88,200,000.00000000
Principal Transactions Record: 10
i. Full name of dealer	JEFFERIES & CO INC
ii. SEC file number	8-15074
iii. CRD number	000002347
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	140,589,703.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

1,554,271,371.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	982,392,193
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	UMB BANK, N.A.
Line Institutions Record: 2
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 3
Name of institution	CITIBANK, N.A.
Line Institutions Record: 4
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 5
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 6
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 7
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 8
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 9
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 10
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 11
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 12
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 13
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 14
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 15
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 16
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 2

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 3

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 5

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 10

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 11

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 14

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 18

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 21

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 39

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 42

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 43

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 44

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 45

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 46

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 47

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 49

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 51

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 53

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 62

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 70

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 71

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 73

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 91

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 92

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 93

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 94

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 96

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 97

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 112

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 113

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 114

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 115

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 116

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 117

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 118

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 119

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 120

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 121

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 122

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 123

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 125

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 127

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 128

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 129

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 130

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 132

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 133

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 134

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 135

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 136

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 137

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 138

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 139

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 21

Item C.1. Background information.

a. Full Name of the Fund	Franklin New Jersey Tax-Free Income Fund
b. Series identication number, if any	S000006923
c. LEI	5493002I0DFST576NS47
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194364
iii. Ticker symbol, if any	FNJRX
Shares Outstanding Record: 2
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018781
iii. Ticker symbol, if any	FRNJX
Shares Outstanding Record: 3
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000068551
iii. Ticker symbol, if any	FNJZX
Shares Outstanding Record: 4
i. Full name of Class	Class C
ii. Class identification number, if any	C000018783
iii. Ticker symbol, if any	FNIIX
Shares Outstanding Record: 5
i. Full name of Class	Class A
ii. Class identification number, if any	C000205902
iii. Ticker symbol, if any	FNJQX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	155,970,000.00000000
Principal Transactions Record: 2
i. Full name of dealer	ROOSEVELT & CROSS INC
ii. SEC file number	8-19363
iii. CRD number	000006964
iv. LEI, if any	549300EG9JLHGB0PKJ38
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	10,913,566.00000000
Principal Transactions Record: 3
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEVADA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	22,565,247.00000000
Principal Transactions Record: 4
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,407,800.00000000
Principal Transactions Record: 5
i. Full name of dealer	RBC DAIN RAUSCHER INC
ii. SEC file number	8-45411
iii. CRD number	000031194
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	13,535,706.00000000
Principal Transactions Record: 6
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	12,767,785.00000000
Principal Transactions Record: 7
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	54,772,900.00000000
Principal Transactions Record: 8
i. Full name of dealer	MORGAN STANLEY & CO INC
ii. SEC file number	8-15869
iii. CRD number	000008209
iv. LEI, if any	I7331LVCZKQKX5T7XV54
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	64,610,000.00000000
Principal Transactions Record: 9
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	10,345,266.00000000
Principal Transactions Record: 10
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMERLY BANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	18,328,705.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

397,434,939.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	895,944,183
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 2
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 3
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 4
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 5
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 6
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 7
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 8
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 9
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 10
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 11
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 12
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 13
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 14
Name of institution	CITIBANK, N.A.
Line Institutions Record: 15
Name of institution	UMB BANK, N.A.
Line Institutions Record: 16
Name of institution	BANK OF AMERICA, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 2

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 3

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 4

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 5

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 8

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 10

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 13

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 14

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 17

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 33

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 35

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 37

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 38

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 39

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 40

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 42

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 43

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 45

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 47

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 48

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 49

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 50

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 51

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 53

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 54

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 59

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 60

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 61

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 62

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 64

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 66

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 67

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 70

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 71

Name of fund	Franklin Michigan Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 80

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 91

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 92

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 93

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 94

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 96

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 97

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 111

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 113

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 114

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 115

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 116

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 117

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 118

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 119

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 120

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 121

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 122

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 123

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 125

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 126

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 127

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 128

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 129

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 130

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 132

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 133

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 134

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 135

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 136

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 137

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 138

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 139

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No

Management Investment Record: 22

Item C.1. Background information.

a. Full Name of the Fund	Franklin Michigan Tax-Free Income Fund
b. Series identication number, if any	S000006919
c. LEI	549300HZX1XR2KYICN27
d. Is this the first filing on this form by the Fund?	Yes No

Item C.2. Classes of open-end management investment companies.

a. How many Classes of shares of the Fund (if any) are authorized?	5
b. How many new Classes of shares of the Fund were added during the reporting period?	1
c. How many Classes of shares of the Fund were terminated during the reporting period?	0
d. For each Class with shares outstanding, provide the information requested below:
Shares Outstanding Record: 1
i. Full name of Class	Class A1
ii. Class identification number, if any	C000018771
iii. Ticker symbol, if any	FTTMX
Shares Outstanding Record: 2
i. Full name of Class	Class A
ii. Class identification number, if any	C000205898
iii. Ticker symbol, if any	FMQTX
Shares Outstanding Record: 3
i. Full name of Class	Class C
ii. Class identification number, if any	C000018773
iii. Ticker symbol, if any	FRMTX
Shares Outstanding Record: 4
i. Full name of Class	Class R6
ii. Class identification number, if any	C000194360
iii. Ticker symbol, if any	FKTNX
Shares Outstanding Record: 5
i. Full name of Class	Advisor Class
ii. Class identification number, if any	C000068549
iii. Ticker symbol, if any	FMTFX

Item C.3. Type of fund.

Instructions. 1. "Fund of Funds" means a fund that acquires securities issued by any other investment company in excess of the amounts permitted under paragraph (A) of section 12(d)(1) of the Act (15 U.S.C. 80a-12(d)(1)(A)), but, for purposes of this Item, does not include a fund that acquires securities issued by another company solely in reliance on rule 12d1-1 under the Act (CFR 270.12d1-1). 2. "Index Fund" means an investment company, including an Exchange-Traded Fund, that seeks to track the performance of a specified index. 3. "Interval Fund" means a closed-end management investment company that makes periodic repurchases of its shares pursuant to rule 23c-3 under the Act (17 CFR 270.23c-3). 4. "Master-Feeder Fund" means a two-tiered arrangement in which one or more funds (each a feeder fund) holds shares of a single Fund (the master fund) in accordance with section 12(d)(1)(E) of the Act (15 U.S.C. 80a-12(d)(1)(E)) or pursuant to exemptive relief granted by the Commission. 5. "Target Date Fund" means an investment company that has an investment objective or strategy of providing varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date, or life expectancy.

Indicate if the Fund is any one of the types listed below. Check all that apply.

a. Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund        i.     Exchange-Traded Fund        ii.    Exchange-Traded Managed Fund   b.   Index Fund   c.    Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark   d.    Interval Fund   e.    Fund of Funds   f.     Master-Feeder Fund   g.    Money Market Fund   h.    Target Date Fund   i.     Underlying fund to a variable annuity or variable life insurance contract          N/A

Item C.4. Diversification.

Does the Fund seek to operate as a “non-diversified company” as such term is defined in section 5(b)(2) of the Act (15 U.S.C. 80a- 5(b) (2))?

Yes No

Item C.5. Investments in certain foreign corporations.

Instruction. "Controlled foreign corporation" has the meaning provided in section 957 of the Internal Revenue Code [26 U.S.C. 957].

a. Does the fund invest in a controlled foreign corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities?

Yes No

Item C.6. Securities lending.

Instruction. For purposes of this Item, other adverse impacts would include, for example, (1) a loss to the Fund if collateral and indemnification were not sufficient to replace the loaned securities or their value, (2) the Fund's ineligibility to vote shares in a proxy, or (3) the Fund's ineligibility to receive a direct distribution from the issuer.

a. Is the Fund authorized to engage in securities lending transactions?	Yes No
b. Did the Fund lend any of its securities during the reporting period?	Yes No

c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:

i. Full name of securities lending agent
ii. LEI, if any
iii. Is the securities lending agent an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No
iv. Does the securities lending agent or any other entity indemnify the fund against borrower default on loans administered by this agent?	Yes No

v. If the entity providing the indemnification is not the securities lending agent, provide the following information:

1. Name of person providing indemnification
2. LEI, if any, of person providing indemnification

vi. Did the Fund exercise its indemnification rights during the reporting period?

Yes No

d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:

i. Full name of cash collateral manager:
ii. LEI, if any:
iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund?	Yes No
iv. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of the Fund?	Yes No

e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):	i. Revenue sharing split   ii. Non-revenue sharing split (other than administrative fee)    iii. Administrative fee   iv. Cash collateral reinvestment fee   v. Indemnification fee   vi. Other     N/A
f. Provide the monthly average of the value of portfolio securities on loan during the reporting period	N/A
g. Provide the net income from securities lending activities	N/A

Item C.7. Reliance on certain rules.

Did the Fund rely on any of the following rules under the Act during the reporting period? (check all that apply)

a. Rule 10f-3 (17 CFR 270.10f-3)    b. Rule 12d1-1 (17 CFR 270.12d1-1)   c. Rule 15a-4 (17 CFR 270.15a-4)    d. Rule 17a-6 (17 CFR 270.17a-6)    e. Rule 17a-7 (17 CFR 270.17a-7)   f. Rule 17a-8 (17 CFR 270.17a-8)   g. Rule 17e-1 (17 CFR 270.17e-1)   h. Rule 22d-1 (17 CFR 270.22d-1)   i. Rule 23c-1 (17 CFR 270.23c-1)    j. Rule 32a-4 (17 CFR 270.32a-4)   N/A

Item C.8. Expense limitations.

Instruction. Provide information concerning any direct or indirect limitations, waivers or reductions, on the level of expenses incurred by the fund during the reporting period. A limitation, for example, may be applied indirectly (such as when an adviser agrees to accept a reduced fee pursuant to a voluntary fee waiver) or it may apply only for a temporary period such as for a new fund in its start-up phase.

a. Did the Fund have an expense limitation arrangement in place during the reporting period?	Yes No
b. Were any expenses of the Fund reduced or waived pursuant to an expense limitation arrangement during the reporting period?	Yes No
c. Are the fees waived subject to recoupment?	Yes No
d. Were any expenses previously waived recouped during the period?	Yes No

Item C.9. Investment advisers.

a. Provide the following information about each investment adviser (other than a sub-adviser) of the Fund:

Investment Advisers Record: 1
i. Full name	Franklin Advisers, Inc.
ii. SEC file number ( e.g., 801- )	801-26292
iii.CRD number	000104517
iv. LEI, if any	B1CG1NRZIDDJ0DQEXB52
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Was the investment adviser hired during the reporting period?	Yes No

b. If an investment adviser (other than a sub- adviser) to the Fund was terminated during the reporting period, provide the following with respect to each investment adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

c. For each sub-adviser to the Fund, provide the information requested:

i. Full name
ii. SEC file number ( e.g., 801- ), if applicable
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Is the sub-adviser an affiliated person of the Fund's investment adviser(s)?	Yes No
viii. Was the sub-adviser hired during the reporting period?	Yes No

d. If a sub-adviser was terminated during the reporting period, provide the following with respect to such sub-adviser:

i. Full name
ii. SEC file number ( e.g., 801- )
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Termination date

Item C.10. Transfer agents.

a. Provide the following information about each person providing transfer agency services to the Fund:

Transfer Agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii.SEC file number ( e.g., 84- or 85- )	84-1036
iii. LEI, if any	N/A
iv. State, if applicable	CALIFORNIA
v. Foreign country, if applicable	UNITED STATES OF AMERICA
vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vii. Is the transfer agent a sub-transfer agent?	Yes No

b. Has a transfer agent been hired or terminated during the reporting period?

Yes No

Item C.11. Pricing services.

a. Provide the following information about each person that provided pricing services to the Fund during the reporting period:

Pricing Services Record: 1
i. Full name	Markit North America, Inc.
ii. LEI, if any, or provide and describe other identifying number	13-4153988
Description of other identifying number	TIN
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 2
i. Full name	Intercontinental Exchange, Inc.
ii. LEI, if any, or provide and describe other identifying number	5493000F4ZO33MV32P92
Description of other identifying number
iii. State, if applicable	GEORGIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 3
i. Full name	Bloomberg Finance L.P.
ii. LEI, if any, or provide and describe other identifying number	5493001KJTIIGC8Y1R12
Description of other identifying number
iii. State, if applicable	DELAWARE
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No
Pricing Services Record: 4
i. Full name	Thomson Reuters (Markets) LLC
ii. LEI, if any, or provide and describe other identifying number	549300561UZND4C7B569
Description of other identifying number
iii. State, if applicable
iv. Foreign country, if applicable	CANADA (FEDERAL LEVEL)
v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?	Yes No

b. Was a pricing service hired or terminated during the reporting period?

Yes No

Item C.12. Custodians.

a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:

Custodians Record: 1
i. Full name	The Bank of New York Mellon
ii. LEI, if any	HPFHU0OQ28E4N0NFVK49
iii. State, if applicable	NEW YORK
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the custodian a sub-custodian?	Yes No
vii. With respect to the custodian, check below to indicate the type of custody:	1.Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) 2.Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1) 3.Self - rule 17f-2 (17 CFR 270.17f-2) 4.Securities depository - rule 17f-4 (17 CFR 270.17f-4) 5.Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) 6.Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) 7.Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 8.Insurance company sponsor - rule 26a-2 (17 CFR 270.26a-2) 9.Other

b. Has a custodian been hired or terminated during the reporting period?*

Yes No

Item C.13. Shareholder servicing agents.

a. Provide the following information about each shareholder servicing agent of the Fund:

Shareholder servicing agents Record: 1
i. Full name	Franklin Templeton Investor Services, LLC
ii. LEI, if any, or provide and describe other identifying number	84-1036
Description of other identifying number	SEC file number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the shareholder servicing agent an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the shareholder servicing agent a sub-shareholder servicing agent?	Yes No

b. Has a shareholder servicing agent been hired or terminated during the reporting period?

Yes No

Item C.14. Administrators.

a. Provide the following information about each administrator of the Fund:

Administrators Record: 1
i. Full name	Franklin Templeton Services, LLC
ii. LEI, if any, or other identifying number	549300DFD0POOJZ42788
Description of other identifying number
iii. State, if applicable	CALIFORNIA
iv. Foreign country, if applicable	UNITED STATES OF AMERICA
v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?	Yes No
vi. Is the administrator a sub-administrator?	Yes No

b.Has a third-party administrator been hired or terminated during the reporting period?

Yes No

Item C.15. Affiliated broker-dealers.

Provide the following information about each affiliated broker-dealer:

Broker Dealers Record: 1
a. Full name	Franklin Templeton Distributors, Inc.
b. SEC file number	8-5889
c. CRD number	000000332
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.00000000
Broker Dealers Record: 2
a. Full name	Franklin Templeton Financial Services Corp.
b. SEC file number	8-29504
c. CRD number	000013594
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000
Broker Dealers Record: 3
a. Full name	Franklin Templeton Investment Services, Inc.
b. SEC file number	8-43206
c. CRD number	000027884
d. LEI, if any	N/A
e. State, if applicable	CALIFORNIA
f. Foreign country, if applicable	UNITED STATES OF AMERICA
g. Total commissions paid to the affiliated broker-dealer for the reporting period:	0.000

Item C.16. Brokers.

Instructions to Item C.16 and Item C.17. To help Registrants distinguish between agency and principal transactions, and to promote consistent reporting of the information required by these items, the following criteria should be used: 1. If a security is purchased or sold in a transaction for which the confirmation specifies the amount of the commission to be paid by the Registrant, the transaction should be considered an agency transaction and included in determining the answers to Item C.16. 2. If a security is purchased or sold in a transaction for which the confirmation specifies only the net amount to be paid or received by the Registrant and such net amount is equal to the market value of the security at the time of the transaction, the transaction should be considered a principal transaction and included in determining the amounts in Item C.17. 3. If a security is purchased by the Registrant in an underwritten offering, the acquisition should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the underwriters are receiving from the issuer. 4. If a security is sold by the Registrant in a tender offer, the sale should be considered a principal transaction and included in answering Item C.17 even though the Registrant has knowledge of the amount the offeror is paying to soliciting brokers or dealers. 5. If a security is purchased directly from the issuer (such as a bank CD), the purchase should be considered a principal transaction and included in answering Item C.17. 6. The value of called or maturing securities should not be counted in either agency or principal transactions and should not be included in determining the amounts shown in Item C.16 and Item C.17. This means that the acquisition of a security may be included, but it is possible that its disposition may not be included. Disposition of a repurchase agreement at its expiration date should not be included. 7. The purchase or sales of securities in transactions not described in paragraphs (1) through (6) above should be evaluated by the Fund based upon the guidelines established in those paragraphs and classified accordingly. The agents considered in Item C.16 may be persons or companies not registered under the Exchange Act as securities brokers. The persons or companies from whom the investment company purchased or to whom it sold portfolio instruments on a principal basis may be persons or entities not registered under the Exchange Act as securities dealers.

a. For each of the ten brokers that received the largest dollar amount of brokerage commissions (excluding dealer concessions in underwritings) by virtue of direct or indirect participation in the Fund’s portfolio transactions, provide the information below:

i. Full name of broker
ii. SEC file number
iii. CRD number
iv. LEI, if any
v. State, if applicable
vi. Foreign country, if applicable
vii. Gross commissions paid by the Fund for the reporting period

b. Aggregate brokerage commissions paid by Fund during the reporting period:	0

Item C.17. Principal transactions.

a. For each of the ten entities acting as principals with which the Fund did the largest dollar amount of principal transactions (include all short-term obligations, and U.S. government and tax-free securities) in both the secondary market and in underwritten offerings, provide the information below:

Principal Transactions Record: 1
i. Full name of dealer	SIEBERT FINANCIAL CORP
ii. SEC file number	8-14900
iii. CRD number	000005376
iv. LEI, if any	N/A
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	8,520,505.00000000
Principal Transactions Record: 2
i. Full name of dealer	JANNEY MONTGOMERY SCOTT LLC
ii. SEC file number	8-462
iii. CRD number	000000463
iv. LEI, if any	549300QQRY1JCFQHYS08
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	3,786,710.00000000
Principal Transactions Record: 3
i. Full name of dealer	GOLDMAN, SACHS & CO
ii. SEC file number	8-129
iii. CRD number	000000361
iv. LEI, if any	549300K06R9ZUC3UEN80
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	12,925,715.00000000
Principal Transactions Record: 4
i. Full name of dealer	JP MORGAN SECURITIES LLC
ii. SEC file number	8-35008
iii. CRD number	000000079
iv. LEI, if any	ZBUT11V806EZRVTWT807
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	47,021,371.00000000
Principal Transactions Record: 5
i. Full name of dealer	MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA)
ii. SEC file number	8-7221
iii. CRD number	000007691
iv. LEI, if any	B4TYDEB6GKMZO031MB27
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	79,587,616.00000000
Principal Transactions Record: 6
i. Full name of dealer	CITIGROUP GLOBAL MARKETS INC
ii. SEC file number	8-8177
iii. CRD number	000007059
iv. LEI, if any	MBNUM2BPBDO7JBLYG310
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	19,687,680.00000000
Principal Transactions Record: 7
i. Full name of dealer	BARCLAYS CAPITAL INC
ii. SEC file number	8-41342
iii. CRD number	000019714
iv. LEI, if any	AC28XWWI3WIBK2824319
v. State, if applicable	NEW YORK
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	4,090,340.00000000
Principal Transactions Record: 8
i. Full name of dealer	STIFEL NICKOLAUS & CO., INC.
ii. SEC file number	8-1447
iii. CRD number	000000793
iv. LEI, if any	5WUVMA08EYG4KEUPW589
v. State, if applicable	MISSOURI
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	33,990,510.00000000
Principal Transactions Record: 9
i. Full name of dealer	WELLS FARGO INVESTMENTS LLC (Formerly WACHOVIA SECURITIES INC)
ii. SEC file number	8-38588
iii. CRD number	000010582
iv. LEI, if any	N/A
v. State, if applicable	CALIFORNIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	37,835,858.00000000
Principal Transactions Record: 10
i. Full name of dealer	PNC CAPITAL MARKETS INC
ii. SEC file number	8-32493
iii. CRD number	000015647
iv. LEI, if any	N/A
v. State, if applicable	PENNSYLVANIA
vi. Foreign country, if applicable	UNITED STATES OF AMERICA
vii. Total value of purchases and sales (excluding maturing securities) with Fund:	22,406,664.00000000

b. Aggregate value of principal purchase/sale transactions of Fund during the reporting period:

278,963,054.00000000

Item C.18. Payments for brokerage and research.

During the reporting period, did the Fund pay commissions to broker-dealers for "brokerage and research services" within the meaning of section 28(e) of the Exchange Act (15 U.S.C. 78bb)?

Yes No

Item C.19. Average net assets.

a. Provide the Fund's (other than a money market fund's) monthly average net assets during the reporting period	929,972,838
b. Provide the money market fund's daily average net assets during the reporting period

Item C.20. Lines of credit, interfund lending and interfund borrowing.

For open-end management investment companies, respond to the following:

a. Does the Fund have available a line of credit?

Yes No

If yes, for each line of credit, provide the information requested below:

Line of Credit details Record: 1
i. Is the line of credit a committed or uncommitted line of credit?	Committed Uncommitted
ii. What size is the line of credit?	2,000,000,000.00000000
iii. With which institution(s) is the line of credit?
Line Institutions Record: 1
Name of institution	BANK OF AMERICA, N.A.
Line Institutions Record: 2
Name of institution	JPMORGAN CHASE BANK , N.A.
Line Institutions Record: 3
Name of institution	THE BANK OF NEW YORK MELLON
Line Institutions Record: 4
Name of institution	MORGAN STANLEY BANK, N.A.
Line Institutions Record: 5
Name of institution	BANCO BILBAO VIZCAYA ARGENTARIA
Line Institutions Record: 6
Name of institution	THE BANK OF NOVA SCOTIA, HOUSTAN BRANCH
Line Institutions Record: 7
Name of institution	STANDARD CHARTERED BANK
Line Institutions Record: 8
Name of institution	STATE STREET BANK AND TRUST COMPANY
Line Institutions Record: 9
Name of institution	CREDIT SUISSE AG
Line Institutions Record: 10
Name of institution	HSBC BANK USA, N.A.
Line Institutions Record: 11
Name of institution	ROYAL BANK OF CANADA
Line Institutions Record: 12
Name of institution	THE TORONTO-DOMINION BANK
Line Institutions Record: 13
Name of institution	DEUTSCHE BANK AG
Line Institutions Record: 14
Name of institution	CITIBANK, N.A.
Line Institutions Record: 15
Name of institution	BARCLAYS BANK PLC
Line Institutions Record: 16
Name of institution	UMB BANK, N.A.
iv. Is the line of credit just for the Fund, or is it shared among multiple funds?	Sole Shared

1. If shared, list the names of other funds that may use the line of credit.

Shared Credit Users Record: 1

Name of fund	Franklin California Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 2

Name of fund	Franklin California Ultra Short Tax Free Income Fund
SEC File number( e.g., 811- )	811-04356

Shared Credit Users Record: 3

Name of fund	Franklin Pelagos Commodities Strategy Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 4

Name of fund	Franklin California Tax-Free Income Fund
SEC File number( e.g., 811- )	811-02790

Shared Credit Users Record: 5

Name of fund	Franklin Focused Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 6

Name of fund	Franklin Dynatech Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 7

Name of fund	Franklin Utilities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 8

Name of fund	Franklin Income Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 9

Name of fund	Franklin Growth Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 10

Name of fund	Franklin U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-00537

Shared Credit Users Record: 11

Name of fund	Franklin LifeSmart 2040 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 12

Name of fund	Franklin Lower Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 13

Name of fund	Franklin LifeSmart Retirement Income Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 14

Name of fund	Franklin Middle Tier Floating Rate Fund
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 15

Name of fund	Franklin LifeSmart 2020 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 16

Name of fund	Franklin Federal Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03395

Shared Credit Users Record: 17

Name of fund	Franklin Floating Rate Master Series
SEC File number( e.g., 811- )	811-09869

Shared Credit Users Record: 18

Name of fund	Franklin LifeSmart 2025 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 19

Name of fund	Franklin LifeSmart 2030 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 20

Name of fund	Franklin LifeSmart 2035 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 21

Name of fund	Franklin Conservative Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 22

Name of fund	Franklin LifeSmart 2055 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 23

Name of fund	Franklin Founding Funds Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 24

Name of fund	Franklin Payout 2019 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 25

Name of fund	Franklin LifeSmart 2045 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 26

Name of fund	Franklin Moderate Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 27

Name of fund	Franklin Payout 2020 Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 28

Name of fund	Franklin Corefolio Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 29

Name of fund	Franklin Growth Allocation Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 30

Name of fund	Franklin LifeSmart 2050 Retirement Target Fund
SEC File number( e.g., 811- )	811-07851

Shared Credit Users Record: 31

Name of fund	Franklin Global Listed Infrastructure Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 32

Name of fund	Franklin Payout 2021 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 33

Name of fund	Franklin International Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 34

Name of fund	Franklin NextStep Conservative Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 35

Name of fund	Franklin NextStep Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 36

Name of fund	Franklin Payout 2022 Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 37

Name of fund	Franklin Emerging Market Debt Opportunities Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 38

Name of fund	Franklin Gold and Precious Metals Fund
SEC File number( e.g., 811- )	811-01700

Shared Credit Users Record: 39

Name of fund	Franklin International Small Cap Growth Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 40

Name of fund	Franklin NextStep Moderate Fund
SEC File number( e.g., 811- )	811-10157

Shared Credit Users Record: 41

Name of fund	Franklin Equity Income Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 42

Name of fund	Franklin Convertible Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 43

Name of fund	Franklin Balanced Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 44

Name of fund	Franklin Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 45

Name of fund	Franklin Floating Rate Daily Access Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 46

Name of fund	Franklin Real Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 47

Name of fund	Franklin Low Duration Total Return Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 48

Name of fund	Franklin Adjustable U.S. Government Securities Fund
SEC File number( e.g., 811- )	811-04986

Shared Credit Users Record: 49

Name of fund	Franklin Rising Dividends Fund
SEC File number( e.g., 811- )	811-04894

Shared Credit Users Record: 50

Name of fund	Franklin High Income Fund
SEC File number( e.g., 811- )	811-01608

Shared Credit Users Record: 51

Name of fund	Franklin Mutual Shares Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 52

Name of fund	Franklin Mutual European Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 53

Name of fund	Franklin Tennessee Municipal Bond Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 54

Name of fund	Franklin Mutual International Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 55

Name of fund	Franklin Mutual Global Discovery Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 56

Name of fund	Franklin Mutual Beacon Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 57

Name of fund	Franklin Mutual Financial Services Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 58

Name of fund	Franklin California High Yield Municipal Fund
SEC File number( e.g., 811- )	811-06481

Shared Credit Users Record: 59

Name of fund	Franklin New York Tax-Free Income Fund
SEC File number( e.g., 811- )	811-03479

Shared Credit Users Record: 60

Name of fund	Franklin Mutual Quest Fund
SEC File number( e.g., 811- )	811-05387

Shared Credit Users Record: 61

Name of fund	Franklin Biotechnology Discovery Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 62

Name of fund	Franklin Natural Resources Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 63

Name of fund	Franklin Strategic Mortgage Portfolio
SEC File number( e.g., 811- )	811-07288

Shared Credit Users Record: 64

Name of fund	Franklin Growth Opportunities Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 65

Name of fund	Franklin Select U.S. Equity Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 66

Name of fund	Franklin Real Estate Securities Fund
SEC File number( e.g., 811- )	811-08034

Shared Credit Users Record: 67

Name of fund	Franklin Small Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 68

Name of fund	Franklin Small Mid Cap Growth Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 69

Name of fund	Franklin Strategic Income Fund
SEC File number( e.g., 811- )	811-06243

Shared Credit Users Record: 70

Name of fund	Franklin New York Intermediate-Term Tax-Free Income Fund
SEC File number( e.g., 811- )	811-04787

Shared Credit Users Record: 71

Name of fund	Franklin Massachusetts Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 72

Name of fund	Franklin Georgia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 73

Name of fund	Franklin Ohio Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 74

Name of fund	Franklin Colorado Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 75

Name of fund	Franklin Pennsylvania Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 76

Name of fund	Franklin Minnesota Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 77

Name of fund	Franklin Kentucky Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 78

Name of fund	Franklin Federal Intermediate Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 79

Name of fund	Franklin Flexible Alpha Bond Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 80

Name of fund	Franklin Louisiana Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 81

Name of fund	Franklin Florida Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 82

Name of fund	Franklin Missouri Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 83

Name of fund	Franklin Oregon Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 84

Name of fund	Franklin Virginia Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 85

Name of fund	Franklin Federal Limited Term Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 86

Name of fund	Franklin High Yield Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 87

Name of fund	Franklin Connecticut Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 88

Name of fund	Franklin Maryland Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 89

Name of fund	Franklin Alabama Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 90

Name of fund	Templeton Foreign VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 91

Name of fund	Franklin Arizona Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 92

Name of fund	Franklin Growth and Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 93

Name of fund	Franklin India Growth Fund
SEC File number( e.g., 811- )	811-06336

Shared Credit Users Record: 94

Name of fund	Franklin North Carolina Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 95

Name of fund	Templeton Global Currency Fund
SEC File number( e.g., 811- )	811-04450

Shared Credit Users Record: 96

Name of fund	Franklin New Jersey Tax Free Income Fund
SEC File number( e.g., 811- )	811-04149

Shared Credit Users Record: 97

Name of fund	Franklin Global Real Estate VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 98

Name of fund	Templeton Developing Markets VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 99

Name of fund	Franklin Flex Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 100

Name of fund	Franklin Large Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 101

Name of fund	Franklin U.S. Government Securities VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 102

Name of fund	Franklin Rising Dividends VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 103

Name of fund	Franklin Small Cap Value VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 104

Name of fund	Franklin Mutual Global Discovery VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 105

Name of fund	Templeton Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 106

Name of fund	Franklin Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 107

Name of fund	Franklin Mutual Shares VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 108

Name of fund	Templeton Global Bond VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 109

Name of fund	Franklin Small-Mid Cap Growth VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 110

Name of fund	Franklin VolSmart Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 111

Name of fund	Franklin Balance Sheet Invesent Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 112

Name of fund	Franklin Founding Funds Allocation VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 113

Name of fund	Templeton Foreign Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 114

Name of fund	Franklin MicroCap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 115

Name of fund	Franklin Small Cap Value Fund
SEC File number( e.g., 811- )	811-05878

Shared Credit Users Record: 116

Name of fund	Templeton China World Fund
SEC File number( e.g., 811- )	811-07876

Shared Credit Users Record: 117

Name of fund	Templeton Global Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 118

Name of fund	Templeton World Fund
SEC File number( e.g., 811- )	811-02781

Shared Credit Users Record: 119

Name of fund	Franklin Strategic Income VIP Fund
SEC File number( e.g., 811- )	811-05583

Shared Credit Users Record: 120

Name of fund	Templeton International Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 121

Name of fund	Templeton Emerging Markets Balanced Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 122

Name of fund	Templeton Global Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 123

Name of fund	Templeton Emerging Markets Bond Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 124

Name of fund	Templeton Dynamic Equity Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 125

Name of fund	Templeton Emerging Markets Small Cap Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 126

Name of fund	Templeton Growth Fund, Inc.
SEC File number( e.g., 811- )	811-04892

Shared Credit Users Record: 127

Name of fund	Templeton Frontier Markets Fund
SEC File number( e.g., 811- )	811-08226

Shared Credit Users Record: 128

Name of fund	Templeton Global Total Return Fund
SEC File number( e.g., 811- )	811-04706

Shared Credit Users Record: 129

Name of fund	Templeton Global Smaller Companies Fund
SEC File number( e.g., 811- )	811-03143

Shared Credit Users Record: 130

Name of fund	Foreign Smaller Companies Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 131

Name of fund	International Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 132

Name of fund	Franklin Liberty Senior Loan ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 133

Name of fund	Global Equity Series
SEC File number( e.g., 811- )	811-06135

Shared Credit Users Record: 134

Name of fund	Franklin K2 Alternative Strategies Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 135

Name of fund	Franklin K2 Long Short Credit Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 136

Name of fund	Franklin Liberty High Yield Corporate ETF
SEC File number( e.g., 811- )	811-23124

Shared Credit Users Record: 137

Name of fund	Franklin K2 Global Macro Opportunities Fund
SEC File number( e.g., 811- )	811-22641

Shared Credit Users Record: 138

Name of fund	Templeton Developing Markets Trust
SEC File number( e.g., 811- )	811-06378

Shared Credit Users Record: 139

Name of fund	Templeton International Climate Change Fund
SEC File number( e.g., 811- )	811-02781

v. Did the Fund draw on the line of credit this period? Yes No

b. Did the Fund engage in interfund lending?	Yes No

c.Did the Fund engage in interfund borrowing?	Yes No

Item C.21. Swing pricing.

For open-end management investment companies, respond to the following:

a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?	Yes No