XML 22 R2.htm IDEA: XBRL DOCUMENT v3.25.2
Shareholder Report
 12 Months Ended
May 31, 2025
USD ($)
$ / shares
Shareholder Report [Line Items]  
Document Type N-CSR
Amendment Flag false
Registrant Name Putnam Pennsylvania Tax Exempt Income Fund
Entity Central Index Key 0000794615
Entity Investment Company Type N-1A
Document Period End Date May 31, 2025
Class A  
Shareholder Report [Line Items]  
Fund Name Putnam Pennsylvania Tax Exempt Income Fund
Class Name Class A
Trading Symbol PTEPX
Annual or Semi-Annual Statement [Text Block] This annual shareholder report contains important information about Putnam Pennsylvania Tax Exempt Income Fund for the period June 1, 2024, to May 31, 2025.
Shareholder Report Annual or Semi-Annual annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.
Material Fund Change Notice [Text Block]
This report describes changes to the Fund that occurred during the reporting period.
Additional Information Phone Number (800) 225-1581
Additional Information Website https://www.franklintempleton.com/regulatory-fund-documents
Expenses [Text Block]
WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class A
$87
0.86%
Expenses Paid, Amount $ 87
Expense Ratio, Percent 0.86%
Factors Affecting Performance [Text Block]
HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?
For the twelve months ended May 31, 2025, Class A shares of Putnam Pennsylvania Tax Exempt Income Fund returned 1.74%. The Fund compares its performance to the Bloomberg Municipal Bond Index, which returned 2.03% for the same period.
PERFORMANCE HIGHLIGHTS
Top contributors to performance:
↑
Overweight BBB rated bonds
↑
Underweight to AAA rated bonds
↑
Security selection in AAA rated bonds
Top detractors from performance:
↓
Overweight to municipal bonds with 20 or more years to maturity
↓
Underweight to municipal bonds with two- to five-years to maturity
↓
Security selection in A rated bonds
Performance Past Does Not Indicate Future [Text] The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future.
Line Graph [Table Text Block]
image
Average Annual Return [Table Text Block]
AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2025
 
1 Year
5 Year
10 Year
Class A
1.74
0.57
1.78
Class A (with sales charge)
-2.33
-0.25
1.37
Bloomberg Municipal Bond Index
2.03
0.55
2.13
No Deduction of Taxes [Text Block] The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.
Material Change Date Jun. 01, 2024
Updated Performance Information Location [Text Block]
For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit
https://www.franklintempleton.com/investments/options/mutual-funds.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Net Assets $ 96,873,059
Holdings Count | $ / shares 106 [1]
Advisory Fees Paid, Amount $ 424,218
Investment Company Portfolio Turnover 11.00%
Additional Fund Statistics [Text Block]
KEY FUND STATISTICS (as of May 31, 2025)
Total Net Assets
$96,873,059
Total Number of Portfolio Holdings*
106
Total Management Fee Paid
$424,218
Portfolio Turnover Rate
11%
[1]
Holdings [Text Block]
image
Material Fund Change [Text Block]
HOW HAS THE FUND CHANGED?
On May 31, 2023, Franklin Resources, Inc. (“Franklin Templeton”) and Great-West Lifeco Inc., the parent company of Putnam U.S. Holdings I, LLC (“Putnam Holdings”), announced that they had entered into a definitive agreement for a subsidiary of Franklin Templeton to acquire Putnam Holdings in a stock and cash transaction (the “Transaction”). The Transaction was completed on January 1, 2024. As part of the Transaction, your Fund’s then-current investment advisor, Putnam Investment Management, LLC (“Putnam Management”), a wholly-owned subsidiary of Putnam Holdings, and your Fund’s then-current sub-advisor, Putnam Investments Limited (“PIL”), an indirect, wholly-owned subsidiary of Putnam Holdings, became indirect, wholly-owned subsidiaries of Franklin Templeton. In connection with the Transaction, shareholders of your Fund approved a new management contract with Putnam Management and a new sub-advisory contract with PIL. The new contracts were identical to the previous contracts, except for the effective dates, initial terms, updates to fund names as necessary to reflect previous name changes, and certain non-substantive changes.
Effective July 15, 2024, Putnam Management transferred its management contract for your Fund to Franklin Advisers, Inc. (“Franklin Advisers”), and Franklin Advisers replaced Putnam Management as the investment advisor to your Fund. In connection with the transfer, your Fund’s portfolio managers, along with supporting research analysts and certain other investment staff of Putnam Management, also became employees of Franklin Advisers. Putnam Management also transferred to Franklin Advisers its sub-management agreement with PIL in respect of your Fund. Franklin Advisers is an indirect, wholly-owned subsidiary of Franklin Templeton. In addition, effective July 15, 2024, Franklin Advisers retained Putnam Management as a sub-advisor to your Fund pursuant to a new subadvisory agreement.
Effective November 1, 2024 (the “Effective Date”), PIL, a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited (“FTIML”), a wholly-owned subsidiary of Franklin Templeton (the “Merger”). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund’s Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.
Effective May 30, 2025, the portfolio managers for the Fund are John Bonelli, Michael Conn, Garrett Hamilton, Christopher Sperry and John Wiley.
Effective September 5, 2024 (the “Conversion Date”), class B shares of the Fund acquired prior to the Conversion Date converted automatically to class A shares.
At a meeting on May 16, 2025, the Board of Trustees of the Putnam Funds (the “Board”) approved the conversion of the Fund into an exchange traded fund through the reorganization of the Fund with and into a newly-organized exchange traded fund (the “ETF”). Pursuant to an Agreement and Plan of Reorganization (the “Plan”) approved by the Board, the reorganization of the Fund will consist of (1) the transfer of substantially all of the Fund’s assets, subject to its liabilities, to the ETF in return for shares of the ETF; and (2) the distribution of the ETF shares to the Fund’s shareholders in complete liquidation of the Fund. Completion of the reorganization is subject to a number of conditions under the Plan. Fund shareholders are not required to approve and will not be asked to vote on the reorganization. Subject to regulatory approvals, Fund shareholders will receive on or around August 7, 2025, a prospectus/information statement describing in detail both the reorganization and the ETF and a summary of the Board’s considerations in approving the reorganization. It is anticipated that the reorganization would occur in or around the fourth quarter of 2025 or the first quarter of 2026.
This is a summary of certain changes to the Fund since June 1, 2024. For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by October 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or   
funddocuments@putnam.com.
Updated Prospectus Phone Number (800) 225-1581
Updated Prospectus Email Address funddocuments@putnam.com
Updated Prospectus Web Address https://www.franklintempleton.com/regulatory-fund-documents
Class C  
Shareholder Report [Line Items]  
Fund Name Putnam Pennsylvania Tax Exempt Income Fund
Class Name Class C
Trading Symbol PPNCX
Annual or Semi-Annual Statement [Text Block] This annual shareholder report contains important information about Putnam Pennsylvania Tax Exempt Income Fund for the period June 1, 2024, to May 31, 2025.
Shareholder Report Annual or Semi-Annual annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.
Material Fund Change Notice [Text Block]
This report describes changes to the Fund that occurred during the reporting period.
Additional Information Phone Number (800) 225-1581
Additional Information Website https://www.franklintempleton.com/regulatory-fund-documents
Expenses [Text Block]
WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class C
$162
1.61%
Expenses Paid, Amount $ 162
Expense Ratio, Percent 1.61%
Factors Affecting Performance [Text Block]
HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?
For the twelve months ended May 31, 2025, Class C shares of Putnam Pennsylvania Tax Exempt Income Fund returned 0.98%. The Fund compares its performance to the Bloomberg Municipal Bond Index, which returned 2.03% for the same period.
PERFORMANCE HIGHLIGHTS
Top contributors to performance:
↑
Overweight BBB rated bonds
↑
Underweight to AAA rated bonds
↑
Security selection in AAA rated bonds
Top detractors from performance:
↓
Overweight to municipal bonds with 20 or more years to maturity
↓
Underweight to municipal bonds with two- to five-years to maturity
↓
Security selection in A rated bonds
Performance Past Does Not Indicate Future [Text] The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future.
Line Graph [Table Text Block]
image
Average Annual Return [Table Text Block]
AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2025
 
1 Year
5 Year
10 Year
Class C
0.98
-0.19
1.15
Class C (with sales charge)
-0.01
-0.19
1.15
Bloomberg Municipal Bond Index
2.03
0.55
2.13
No Deduction of Taxes [Text Block] The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.
Material Change Date Jun. 01, 2024
Updated Performance Information Location [Text Block]
For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit
https://www.franklintempleton.com/investments/options/mutual-funds.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Net Assets $ 96,873,059
Holdings Count | $ / shares 106 [2]
Advisory Fees Paid, Amount $ 424,218
Investment Company Portfolio Turnover 11.00%
Additional Fund Statistics [Text Block]
KEY FUND STATISTICS (as of May 31, 2025)
Total Net Assets
$96,873,059
Total Number of Portfolio Holdings*
106
Total Management Fee Paid
$424,218
Portfolio Turnover Rate
11%
[2]
Holdings [Text Block]
image
Material Fund Change [Text Block]
HOW HAS THE FUND CHANGED?
On May 31, 2023, Franklin Resources, Inc. (“Franklin Templeton”) and Great-West Lifeco Inc., the parent company of Putnam U.S. Holdings I, LLC (“Putnam Holdings”), announced that they had entered into a definitive agreement for a subsidiary of Franklin Templeton to acquire Putnam Holdings in a stock and cash transaction (the “Transaction”). The Transaction was completed on January 1, 2024. As part of the Transaction, your Fund’s then-current investment advisor, Putnam Investment Management, LLC (“Putnam Management”), a wholly-owned subsidiary of Putnam Holdings, and your Fund’s then-current sub-advisor, Putnam Investments Limited (“PIL”), an indirect, wholly-owned subsidiary of Putnam Holdings, became indirect, wholly-owned subsidiaries of Franklin Templeton. In connection with the Transaction, shareholders of your Fund approved a new management contract with Putnam Management and a new sub-advisory contract with PIL. The new contracts were identical to the previous contracts, except for the effective dates, initial terms, updates to fund names as necessary to reflect previous name changes, and certain non-substantive changes.
Effective July 15, 2024, Putnam Management transferred its management contract for your Fund to Franklin Advisers, Inc. (“Franklin Advisers”), and Franklin Advisers replaced Putnam Management as the investment advisor to your Fund. In connection with the transfer, your Fund’s portfolio managers, along with supporting research analysts and certain other investment staff of Putnam Management, also became employees of Franklin Advisers. Putnam Management also transferred to Franklin Advisers its sub-management agreement with PIL in respect of your Fund. Franklin Advisers is an indirect, wholly-owned subsidiary of Franklin Templeton. In addition, effective July 15, 2024, Franklin Advisers retained Putnam Management as a sub-advisor to your Fund pursuant to a new subadvisory agreement.
Effective November 1, 2024 (the “Effective Date”), PIL, a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited (“FTIML”), a wholly-owned subsidiary of Franklin Templeton (the “Merger”). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund’s Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.
Effective May 30, 2025, the portfolio managers for the Fund are John Bonelli, Michael Conn, Garrett Hamilton, Christopher Sperry and John Wiley.
At a meeting on May 16, 2025, the Board of Trustees of the Putnam Funds (the “Board”) approved the conversion of the Fund into an exchange traded fund through the reorganization of the Fund with and into a newly-organized exchange traded fund (the “ETF”). Pursuant to an Agreement and Plan of Reorganization (the “Plan”) approved by the Board, the reorganization of the Fund will consist of (1) the transfer of substantially all of the Fund’s assets, subject to its liabilities, to the ETF in return for shares of the ETF; and (2) the distribution of the ETF shares to the Fund’s shareholders in complete liquidation of the Fund. Completion of the reorganization is subject to a number of conditions under the Plan. Fund shareholders are not required to approve and will not be asked to vote on the reorganization. Subject to regulatory approvals, Fund shareholders will receive on or around August 7, 2025, a prospectus/information statement describing in detail both the reorganization and the ETF and a summary of the Board’s considerations in approving the reorganization. It is anticipated that the reorganization would occur in or around the fourth quarter of 2025 or the first quarter of 2026.
This is a summary of certain changes to the Fund since June 1, 2024. For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by October 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or   
funddocuments@putnam.com.
Updated Prospectus Phone Number (800) 225-1581
Updated Prospectus Email Address funddocuments@putnam.com
Updated Prospectus Web Address https://www.franklintempleton.com/regulatory-fund-documents
Class R6  
Shareholder Report [Line Items]  
Fund Name Putnam Pennsylvania Tax Exempt Income Fund
Class Name Class R6
Trading Symbol PPTRX
Annual or Semi-Annual Statement [Text Block] This annual shareholder report contains important information about Putnam Pennsylvania Tax Exempt Income Fund for the period June 1, 2024, to May 31, 2025.
Shareholder Report Annual or Semi-Annual annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.
Material Fund Change Notice [Text Block]
This report describes changes to the Fund that occurred during the reporting period.
Additional Information Phone Number (800) 225-1581
Additional Information Website https://www.franklintempleton.com/regulatory-fund-documents
Expenses [Text Block]
WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class R6
$60
0.59%
Expenses Paid, Amount $ 60
Expense Ratio, Percent 0.59%
Factors Affecting Performance [Text Block]
HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?
For the twelve months ended May 31, 2025, Class R6 shares of Putnam Pennsylvania Tax Exempt Income Fund returned 2.01%. The Fund compares its performance to the Bloomberg Municipal Bond Index, which returned 2.03% for the same period.
PERFORMANCE HIGHLIGHTS
Top contributors to performance:
↑
Overweight BBB rated bonds
↑
Underweight to AAA rated bonds
↑
Security selection in AAA rated bonds
Top detractors from performance:
↓
Overweight to municipal bonds with 20 or more years to maturity
↓
Underweight to municipal bonds with two- to five-years to maturity
↓
Security selection in A rated bonds
Performance Past Does Not Indicate Future [Text] The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future.
Line Graph [Table Text Block]
image
Average Annual Return [Table Text Block]
AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2025
 
1 Year
5 Year
10 Year
Class R6
2.01
0.85
2.04
Bloomberg Municipal Bond Index
2.03
0.55
2.13
No Deduction of Taxes [Text Block] The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.
Material Change Date Jun. 01, 2024
Updated Performance Information Location [Text Block]
For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit
https://www.franklintempleton.com/investments/options/mutual-funds.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Net Assets $ 96,873,059
Holdings Count | $ / shares 106 [3]
Advisory Fees Paid, Amount $ 424,218
Investment Company Portfolio Turnover 11.00%
Additional Fund Statistics [Text Block]
KEY FUND STATISTICS (as of May 31, 2025)
Total Net Assets
$96,873,059
Total Number of Portfolio Holdings*
106
Total Management Fee Paid
$424,218
Portfolio Turnover Rate
11%
[3]
Holdings [Text Block]
image
Material Fund Change [Text Block]
HOW HAS THE FUND CHANGED?
On May 31, 2023, Franklin Resources, Inc. (“Franklin Templeton”) and Great-West Lifeco Inc., the parent company of Putnam U.S. Holdings I, LLC (“Putnam Holdings”), announced that they had entered into a definitive agreement for a subsidiary of Franklin Templeton to acquire Putnam Holdings in a stock and cash transaction (the “Transaction”). The Transaction was completed on January 1, 2024. As part of the Transaction, your Fund’s then-current investment advisor, Putnam Investment Management, LLC (“Putnam Management”), a wholly-owned subsidiary of Putnam Holdings, and your Fund’s then-current sub-advisor, Putnam Investments Limited (“PIL”), an indirect, wholly-owned subsidiary of Putnam Holdings, became indirect, wholly-owned subsidiaries of Franklin Templeton. In connection with the Transaction, shareholders of your Fund approved a new management contract with Putnam Management and a new sub-advisory contract with PIL. The new contracts were identical to the previous contracts, except for the effective dates, initial terms, updates to fund names as necessary to reflect previous name changes, and certain non-substantive changes.
Effective July 15, 2024, Putnam Management transferred its management contract for your Fund to Franklin Advisers, Inc. (“Franklin Advisers”), and Franklin Advisers replaced Putnam Management as the investment advisor to your Fund. In connection with the transfer, your Fund’s portfolio managers, along with supporting research analysts and certain other investment staff of Putnam Management, also became employees of Franklin Advisers. Putnam Management also transferred to Franklin Advisers its sub-management agreement with PIL in respect of your Fund. Franklin Advisers is an indirect, wholly-owned subsidiary of Franklin Templeton. In addition, effective July 15, 2024, Franklin Advisers retained Putnam Management as a sub-advisor to your Fund pursuant to a new subadvisory agreement.
Effective November 1, 2024 (the “Effective Date”), PIL, a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited (“FTIML”), a wholly-owned subsidiary of Franklin Templeton (the “Merger”). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund’s Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.
Effective May 30, 2025, the portfolio managers for the Fund are John Bonelli, Michael Conn, Garrett Hamilton, Christopher Sperry and John Wiley.
At a meeting on May 16, 2025, the Board of Trustees of the Putnam Funds (the “Board”) approved the conversion of the Fund into an exchange traded fund through the reorganization of the Fund with and into a newly-organized exchange traded fund (the “ETF”). Pursuant to an Agreement and Plan of Reorganization (the “Plan”) approved by the Board, the reorganization of the Fund will consist of (1) the transfer of substantially all of the Fund’s assets, subject to its liabilities, to the ETF in return for shares of the ETF; and (2) the distribution of the ETF shares to the Fund’s shareholders in complete liquidation of the Fund. Completion of the reorganization is subject to a number of conditions under the Plan. Fund shareholders are not required to approve and will not be asked to vote on the reorganization. Subject to regulatory approvals, Fund shareholders will receive on or around August 7, 2025, a prospectus/information statement describing in detail both the reorganization and the ETF and a summary of the Board’s considerations in approving the reorganization. It is anticipated that the reorganization would occur in or around the fourth quarter of 2025 or the first quarter of 2026.
This is a summary of certain changes to the Fund since June 1, 2024. For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by October 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or   
funddocuments@putnam.com.
Updated Prospectus Phone Number (800) 225-1581
Updated Prospectus Email Address funddocuments@putnam.com
Updated Prospectus Web Address https://www.franklintempleton.com/regulatory-fund-documents
Class Y  
Shareholder Report [Line Items]  
Fund Name Putnam Pennsylvania Tax Exempt Income Fund
Class Name Class Y
Trading Symbol PPTYX
Annual or Semi-Annual Statement [Text Block] This annual shareholder report contains important information about Putnam Pennsylvania Tax Exempt Income Fund for the period June 1, 2024, to May 31, 2025.
Shareholder Report Annual or Semi-Annual annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.
Material Fund Change Notice [Text Block]
This report describes changes to the Fund that occurred during the reporting period.
Additional Information Phone Number (800) 225-1581
Additional Information Website https://www.franklintempleton.com/regulatory-fund-documents
Expenses [Text Block]
WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Class Y
$62
0.61%
Expenses Paid, Amount $ 62
Expense Ratio, Percent 0.61%
Factors Affecting Performance [Text Block]
HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?
For the twelve months ended May 31, 2025, Class Y shares of Putnam Pennsylvania Tax Exempt Income Fund returned 1.99%. The Fund compares its performance to the Bloomberg Municipal Bond Index, which returned 2.03% for the same period.
PERFORMANCE HIGHLIGHTS
Top contributors to performance:
↑
Overweight BBB rated bonds
↑
Underweight to AAA rated bonds
↑
Security selection in AAA rated bonds
Top detractors from performance:
↓
Overweight to municipal bonds with 20 or more years to maturity
↓
Underweight to municipal bonds with two- to five-years to maturity
↓
Security selection in A rated bonds
Performance Past Does Not Indicate Future [Text] The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future.
Line Graph [Table Text Block]
image
Average Annual Return [Table Text Block]
AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2025
 
1 Year
5 Year
10 Year
Class Y
1.99
0.82
2.03
Bloomberg Municipal Bond Index
2.03
0.55
2.13
No Deduction of Taxes [Text Block] The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.
Material Change Date Jun. 01, 2024
Updated Performance Information Location [Text Block]
For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit
https://www.franklintempleton.com/investments/options/mutual-funds.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Net Assets $ 96,873,059
Holdings Count | $ / shares 106 [4]
Advisory Fees Paid, Amount $ 424,218
Investment Company Portfolio Turnover 11.00%
Additional Fund Statistics [Text Block]
KEY FUND STATISTICS (as of May 31, 2025)
Total Net Assets
$96,873,059
Total Number of Portfolio Holdings*
106
Total Management Fee Paid
$424,218
Portfolio Turnover Rate
11%
[4]
Holdings [Text Block]
image
Material Fund Change [Text Block]
HOW HAS THE FUND CHANGED?
On May 31, 2023, Franklin Resources, Inc. (“Franklin Templeton”) and Great-West Lifeco Inc., the parent company of Putnam U.S. Holdings I, LLC (“Putnam Holdings”), announced that they had entered into a definitive agreement for a subsidiary of Franklin Templeton to acquire Putnam Holdings in a stock and cash transaction (the “Transaction”). The Transaction was completed on January 1, 2024. As part of the Transaction, your Fund’s then-current investment advisor, Putnam Investment Management, LLC (“Putnam Management”), a wholly-owned subsidiary of Putnam Holdings, and your Fund’s then-current sub-advisor, Putnam Investments Limited (“PIL”), an indirect, wholly-owned subsidiary of Putnam Holdings, became indirect, wholly-owned subsidiaries of Franklin Templeton. In connection with the Transaction, shareholders of your Fund approved a new management contract with Putnam Management and a new sub-advisory contract with PIL. The new contracts were identical to the previous contracts, except for the effective dates, initial terms, updates to fund names as necessary to reflect previous name changes, and certain non-substantive changes.
Effective July 15, 2024, Putnam Management transferred its management contract for your Fund to Franklin Advisers, Inc. (“Franklin Advisers”), and Franklin Advisers replaced Putnam Management as the investment advisor to your Fund. In connection with the transfer, your Fund’s portfolio managers, along with supporting research analysts and certain other investment staff of Putnam Management, also became employees of Franklin Advisers. Putnam Management also transferred to Franklin Advisers its sub-management agreement with PIL in respect of your Fund. Franklin Advisers is an indirect, wholly-owned subsidiary of Franklin Templeton. In addition, effective July 15, 2024, Franklin Advisers retained Putnam Management as a sub-advisor to your Fund pursuant to a new subadvisory agreement.
Effective November 1, 2024 (the “Effective Date”), PIL, a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited (“FTIML”), a wholly-owned subsidiary of Franklin Templeton (the “Merger”). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund’s Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.
Effective May 30, 2025, the portfolio managers for the Fund are John Bonelli, Michael Conn, Garrett Hamilton, Christopher Sperry and John Wiley.
At a meeting on May 16, 2025, the Board of Trustees of the Putnam Funds (the “Board”) approved the conversion of the Fund into an exchange traded fund through the reorganization of the Fund with and into a newly-organized exchange traded fund (the “ETF”). Pursuant to an Agreement and Plan of Reorganization (the “Plan”) approved by the Board, the reorganization of the Fund will consist of (1) the transfer of substantially all of the Fund’s assets, subject to its liabilities, to the ETF in return for shares of the ETF; and (2) the distribution of the ETF shares to the Fund’s shareholders in complete liquidation of the Fund. Completion of the reorganization is subject to a number of conditions under the Plan. Fund shareholders are not required to approve and will not be asked to vote on the reorganization. Subject to regulatory approvals, Fund shareholders will receive on or around August 7, 2025, a prospectus/information statement describing in detail both the reorganization and the ETF and a summary of the Board’s considerations in approving the reorganization. It is anticipated that the reorganization would occur in or around the fourth quarter of 2025 or the first quarter of 2026.
This is a summary of certain changes to the Fund since June 1, 2024. For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by October 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or   
funddocuments@putnam.com.
Updated Prospectus Phone Number (800) 225-1581
Updated Prospectus Email Address funddocuments@putnam.com
Updated Prospectus Web Address https://www.franklintempleton.com/regulatory-fund-documents
[1]
* Does not include derivatives, except purchased options, if any.  
[2]
* Does not include derivatives, except purchased options, if any.  
[3]
* Does not include derivatives, except purchased options, if any.  
[4]
* Does not include derivatives, except purchased options, if any.