N-Q 1 form021.htm FORM N-Q form021.htm - Generated by SEC Publisher for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY

Investment Company Act file number 811- 4765

Dreyfus New York AMT-Free Municipal Bond Fund
(Exact name of Registrant as specified in charter)

c/o The Dreyfus Corporation
200 Park Avenue
New York, New York 10166
(Address of principal executive offices) (Zip code)

Michael A. Rosenberg, Esq.
200 Park Avenue
New York, New York 10166
(Name and address of agent for service)

Registrant's telephone number, including area code: (212) 922-6000
Date of fiscal year end: 11/30  
Date of reporting period: 2/28/10  


FORM N-Q

Item 1. Schedule of Investments.

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SSL-DOCS2 70180139v2


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

Long-Term Municipal Coupon Maturity Principal  
Investments--96.2% Rate (%) Date Amount ($) Value ($)
New York--88.8%        
Albany Industrial Development        
Agency, Civic Facility Revenue        
(Saint Peter's Hospital of the        
City of Albany Project) 5.25 11/15/27 4,500,000 4,403,160
Albany Industrial Development        
Agency, Civic Facility Revenue        
(Saint Peter's Hospital of the        
City of Albany Project) 5.25 11/15/32 1,000,000 945,410
Dutchess County Industrial        
Development Agency, Civic        
Facility Revenue (Bard College        
Civic Facility) 5.00 8/1/20 1,000,000 a 1,026,800
Dutchess County Industrial        
Development Agency, Civic        
Facility Revenue (Bard College        
Civic Facility) 5.00 8/1/22 775,000 a 788,439
Hempstead Industrial Development        
Agency, Civic Facility Revenue        
(Adelphi University Civic        
Facility) 5.00 10/1/30 3,565,000 a 3,643,323
Hempstead Industrial Development        
Agency, Civic Facility Revenue        
(Adelphi University Civic        
Facility) 5.00 10/1/35 1,500,000 a 1,513,770
Hempstead Local Development        
Corporation, Revenue (Molloy        
College Project) 5.70 7/1/29 4,865,000 a 4,967,068
Huntington Housing Authority,        
Senior Housing Facility        
Revenue (Gurwin Jewish Senior        
Residences Project) 6.00 5/1/29 2,740,000 2,348,427
Long Island Power Authority,        


Electric System General Revenue 6.00 5/1/33 3,000,000 3,388,140
Long Island Power Authority,        
Electric System General        
Revenue (Insured; National        
Public Finance Guarantee Corp.) 5.00 12/1/19 2,375,000 2,559,442
Metropolitan Transportation        
Authority, Transit Facilities        
Revenue (Insured; Assured        
Guaranty Municipal Corp.)        
(Prerefunded) 5.13 1/1/12 1,225,000 b 1,328,439
Metropolitan Transportation        
Authority, Transportation        
Revenue 5.00 11/15/25 1,000,000 1,057,620
Metropolitan Transportation        
Authority, Transportation        
Revenue 6.50 11/15/28 1,000,000 1,149,850
Metropolitan Transportation        
Authority, Transportation        
Revenue 5.00 11/15/31 3,000,000 3,071,970
Metropolitan Transportation        
Authority, Transportation        
Revenue (Insured; AMBAC) 5.50 11/15/18 7,745,000 8,441,121
New York City,        
GO 5.38 12/1/20 265,000 273,472
New York City,        
GO 5.00 8/1/21 2,000,000 2,147,040
New York City,        
GO 5.00 8/1/22 1,200,000 1,284,432
New York City,        
GO 5.50 6/1/23 150,000 157,890
New York City,        
GO 5.25 8/15/24 5,420,000 5,790,728
New York City,        
GO (Prerefunded) 5.38 12/1/11 850,000 b 923,176
New York City Housing Development        
Corporation, Capital Fund        
Program Revenue (New York City        
Housing Authority Program)        
(Insured; National Public        


Finance Guarantee Corp.) 5.00 7/1/25 3,465,000 3,616,594
New York City Industrial        
Development Agency, Civic        
Facility Revenue (Vaughn        
College of Aeronautics and        
Technology Project) 5.25 12/1/36 2,000,000 1,505,520
New York City Industrial        
Development Agency, Civic        
Facility Revenue (YMCA of        
Greater New York Project) 5.00 8/1/36 7,500,000 7,080,000
New York City Industrial        
Development Agency, PILOT        
Revenue (Yankee Stadium        
Project) (Insured; Assured        
Guaranty Municipal Corp.) 7.00 3/1/49 5,000,000 5,764,000
New York City Municipal Water        
Finance Authority, Water and        
Sewer System Revenue 5.00 6/15/22 3,000,000 3,268,590
New York City Municipal Water        
Finance Authority, Water and        
Sewer System Second General        
Resolution Revenue 5.25 6/15/40 2,975,000 3,166,144
New York City Municipal Water        
Finance Authority, Water and        
Sewer System Second General        
Resolution Revenue 5.50 6/15/40 2,500,000 2,752,025
New York City Transitional Finance        
Authority, Building Aid        
Revenue (Insured; National        
Public Finance Guarantee Corp.) 5.00 7/15/25 2,000,000 2,127,300
New York City Transitional Finance        
Authority, Building Aid        
Revenue (Insured; National        
Public Finance Guarantee Corp.) 5.00 7/15/36 4,000,000 4,095,680
New York City Transitional Finance        
Authority, Future Tax Secured        
Revenue 5.00 11/1/22 4,000,000 4,347,040
New York City Transitional Finance        
Authority, Future Tax Secured        
Revenue 5.00 11/1/25 3,565,000 3,804,425


New York City Transitional Finance        
Authority, Future Tax Secured        
Revenue 5.00 11/1/28 2,695,000 2,837,592
New York City Transitional Finance        
Authority, Future Tax Secured        
Revenue (Prerefunded) 6.00 5/15/10 450,000 b 460,296
New York State Dormitory        
Authority, Catholic Health        
Services of Long Island        
Obligated Group Revenue (Saint        
Francis Hospital Project) 5.00 7/1/21 5,000,000 5,026,800
New York State Dormitory        
Authority, Consolidated Second        
General Resolution Revenue        
(City University System)        
(Insured; National Public        
Finance Guarantee Corp.) 5.75 7/1/16 3,000,000 a 3,048,570
New York State Dormitory        
Authority, FHA-Insured        
Mortgage Hospital Revenue        
(Hospital for Special Surgery) 6.00 8/15/38 3,470,000 3,740,001
New York State Dormitory        
Authority, FHA-Insured        
Mortgage Hospital Revenue (The        
New York and Presbyterian        
Hospital) (Insured; Assured        
Guaranty Municipal Corp.) 5.25 8/15/27 2,505,000 2,610,110
New York State Dormitory        
Authority, Health Center        
Revenue (Guaranteed; SONYMA) 5.00 11/15/19 1,000,000 1,019,920
New York State Dormitory        
Authority, Insured Revenue        
(Manhattan College) (Insured;        
Radian) 5.50 7/1/16 2,975,000 a 3,064,577
New York State Dormitory        
Authority, Insured Revenue        
(New York University)        
(Insured; AMBAC) 5.00 7/1/32 3,345,000 a 3,484,553
New York State Dormitory        
Authority, Mortgage Hospital        
Revenue (The Long Island        


College Hospital) (Insured;        
FHA) 6.00 8/15/15 2,950,000 3,208,184
New York State Dormitory        
Authority, Revenue        
(Consolidated City University        
System) 5.63 7/1/16 6,500,000 a 7,385,430
New York State Dormitory        
Authority, Revenue        
(Consolidated City University        
System) 5.75 7/1/18 2,500,000 a 2,908,325
New York State Dormitory        
Authority, Revenue        
(Consolidated City University        
System) (Insured; Assured        
Guaranty Municipal Corp.) 5.75 7/1/18 2,290,000 a 2,664,026
New York State Dormitory        
Authority, Revenue (Cornell        
University) 5.00 7/1/24 4,500,000 a 4,914,450
New York State Dormitory        
Authority, Revenue (Cornell        
University) 5.00 7/1/35 4,500,000 a 4,702,320
New York State Dormitory        
Authority, Revenue (Fordham        
University) (Insured; Assured        
Guaranty Municipal Corp.) 5.00 7/1/33 2,000,000 a 2,061,100
New York State Dormitory        
Authority, Revenue (Mental        
Health Services Facilities        
Improvement) 5.00 2/15/28 1,725,000 1,769,867
New York State Dormitory        
Authority, Revenue (Miriam        
Osborne Memorial Home)        
(Insured; ACA) 6.88 7/1/19 2,475,000 2,534,598
New York State Dormitory        
Authority, Revenue (Mount        
Sinai New York University        
Health Obligated Group) 5.50 7/1/26 4,000,000 4,002,520
New York State Dormitory        
Authority, Revenue (Mount        
Sinai New York University        
Health Obligated Group) 5.50 7/1/26 500,000 500,315


New York State Dormitory        
Authority, Revenue (Mount        
Sinai School of Medicine of        
New York University) 5.50 7/1/25 2,320,000 a 2,448,157
New York State Dormitory        
Authority, Revenue (New York        
Methodist Hospital) 5.25 7/1/33 2,000,000 1,826,740
New York State Dormitory        
Authority, Revenue (New York        
State Department of Health) 5.00 7/1/15 3,885,000 4,319,188
New York State Dormitory        
Authority, Revenue (New York        
State Department of Health)        
(Insured; CIFG) 5.00 7/1/25 5,500,000 a 5,676,550
New York State Dormitory        
Authority, Revenue (New York        
University) 5.00 7/1/34 2,000,000 a 2,083,260
New York State Dormitory        
Authority, Revenue (New York        
University Hospitals Center) 5.25 7/1/24 2,000,000 1,991,880
New York State Dormitory        
Authority, Revenue (New York        
University Hospitals Center) 5.00 7/1/26 2,500,000 2,394,750
New York State Dormitory        
Authority, Revenue (North        
Shore - Long Island Jewish        
Obligated Group) 5.00 5/1/25 5,515,000 5,568,606
New York State Dormitory        
Authority, Revenue (North        
Shore - Long Island Jewish        
Obligated Group) 5.50 5/1/37 2,000,000 a 2,030,060
New York State Dormitory        
Authority, Revenue (Orange        
Regional Medical Center        
Obligated Group) 6.13 12/1/29 1,500,000 1,423,365
New York State Dormitory        
Authority, Revenue (Orange        
Regional Medical Center        
Obligated Group) 6.25 12/1/37 1,500,000 1,359,495
New York State Dormitory        


Authority, Revenue (Rochester        
Institute of Technology) 6.00 7/1/33 5,250,000 a 5,781,090
New York State Dormitory        
Authority, Revenue (Siena        
College) 5.00 7/1/31 1,015,000 1,031,616
New York State Dormitory        
Authority, Revenue (State        
University Educational        
Facilities) 5.88 5/15/17 4,060,000 a 4,795,956
New York State Dormitory        
Authority, Revenue (Teachers        
College) 5.00 3/1/24 2,500,000 a 2,670,050
New York State Dormitory        
Authority, Revenue (Teachers        
College) 5.38 3/1/29 2,000,000 a 2,120,880
New York State Dormitory        
Authority, Revenue (The        
Bronx-Lebanon Hospital Center)        
(LOC; TD Bank) 6.50 8/15/30 4,000,000 4,420,200
New York State Dormitory        
Authority, Revenue (The        
Rockefeller University) 5.00 7/1/40 4,000,000 a 4,205,560
New York State Dormitory        
Authority, Revenue (University        
of Rochester) 5.00 7/1/34 6,870,000 a 6,984,866
New York State Dormitory        
Authority, South Nassau        
Communities HR (Winthrop South        
Nassau University Health        
System Obligated Group) 5.50 7/1/23 3,475,000 3,525,561
New York State Dormitory        
Authority, State Personal        
Income Tax Revenue (General        
Purpose) 5.25 2/15/22 2,500,000 2,864,925
New York State Energy Research and        
Development Authority, Gas        
Facilities Revenue (The        
Brooklyn Union Gas Company        
Project) 6.37 4/1/20 5,000,000 5,102,950
New York State Environmental        


Facilities Corporation, State        
Clean Water and Drinking Water        
Revolving Funds Revenue (New        
York City Municipal Water        
Finance Authority Projects -        
Second Resolution Bonds) 5.00 6/15/29 2,470,000 2,674,565
New York State Housing Finance        
Agency, State Personal Income        
Tax Revenue (Economic        
Development and Housing) 5.00 3/15/34 3,575,000 3,706,846
New York State Mortgage Agency,        
Education Loan Revenue (New        
York Higher Education Loan        
Program) 5.25 11/1/20 3,105,000 a 3,345,824
New York State Thruway Authority,        
General Revenue (Insured;        
National Public Finance        
Guarantee Corp.) 5.00 1/1/27 5,000,000 5,278,500
New York State Thruway Authority,        
Highway and Bridge Trust Fund        
Bonds (Insured; FGIC)        
(Prerefunded) 5.50 4/1/11 1,225,000 b 1,307,712
New York State Thruway Authority,        
Second General Highway and        
Bridge Trust Fund Bonds 5.00 4/1/25 5,000,000 5,369,350
New York State Thruway Authority,        
Second General Highway and        
Bridge Trust Fund Bonds 5.00 4/1/26 2,500,000 2,691,575
New York State Thruway Authority,        
Second General Highway and        
Bridge Trust Fund Bonds 5.00 4/1/27 2,000,000 2,119,080
New York State Thruway Authority,        
Second General Highway and        
Bridge Trust Fund Bonds        
(Insured; AMBAC) 5.00 4/1/19 7,500,000 8,228,100
New York State Thruway Authority,        
Second General Highway and        
Bridge Trust Fund Bonds        
(Insured; AMBAC) 5.00 4/1/22 5,000,000 5,407,000
New York State Thruway Authority,        
State Personal Income Tax        


Revenue (Transportation) 5.25 3/15/27 3,000,000 3,281,160
New York State Urban Development        
Corporation, Correctional        
Facilities Revenue 5.50 1/1/14 3,000,000 3,220,560
New York State Urban Development        
Corporation, Correctional        
Facilities Revenue (Insured;        
Assured Guaranty Municipal        
Corp.) 5.50 1/1/14 3,000,000 3,210,600
New York State Urban Development        
Corporation, State Personal        
Income Tax Revenue (Economic        
Development and Housing)        
(Insured; AMBAC) 5.00 12/15/23 2,000,000 2,184,860
New York State Urban Development        
Corporation, State Personal        
Income Tax Revenue (State        
Facilities and Equipment)        
(Insured; FGIC) (Prerefunded) 5.50 3/15/13 2,450,000 b 2,793,392
New York State Urban Development        
Corporation, State Personal        
Income Tax Revenue (State        
Facilities and Equipment)        
(Insured; FGIC) (Prerefunded) 5.50 3/15/13 3,000,000 b 3,420,480
Niagara County Industrial        
Development Agency, Solid        
Waste Disposal Facility        
Revenue (American Ref-Fuel        
Company of Niagara, LP        
Facility) 5.55 11/15/15 3,470,000 3,510,981
North Country Development        
Authority, Solid Waste        
Management System Revenue        
(Insured; Assured Guaranty        
Municipal Corp.) 6.00 5/15/15 1,985,000 2,198,665
Orange County Industrial        
Development Agency, Life Care        
Community Revenue (Glenn        
Arden, Inc. Project) 5.63 1/1/18 1,685,000 1,487,063
Port Authority of New York and New        
Jersey (Consolidated Bonds,        


142nd Series) 5.00 7/15/23 2,000,000 2,171,440
Rensselaer County Industrial        
Development Agency, Civic        
Facility Revenue (Emma Willard        
School Project) 5.00 1/1/31 2,000,000 a 2,029,220
Rensselaer County Industrial        
Development Agency, Civic        
Facility Revenue (Emma Willard        
School Project) 5.00 1/1/36 2,000,000 a 2,009,940
Rensselaer County Industrial        
Development Agency, Civic        
Facility Revenue (Rensselaer        
Polytechnic Institute Project) 5.00 3/1/36 2,000,000 a 2,047,940
Schenectady Industrial Development        
Agency, Civic Facility Revenue        
(Union College Project) 5.00 7/1/25 2,260,000 a 2,397,182
Schenectady Industrial Development        
Agency, Civic Facility Revenue        
(Union College Project) 5.00 7/1/26 1,380,000 a 1,458,991
Schenectady Industrial Development        
Agency, Civic Facility Revenue        
(Union College Project) 5.00 7/1/31 3,335,000 a 3,467,033
Suffolk Tobacco Asset        
Securitization Corporation,        
Tobacco Settlement        
Asset-Backed Bonds 6.00 6/1/48 5,000,000 4,518,950
Tobacco Settlement Financing        
Corporation of New York,        
Asset-Backed Revenue Bonds        
(State Contingency Contract        
Secured) 5.50 6/1/21 6,930,000 7,439,909
Triborough Bridge and Tunnel        
Authority, General Purpose        
Revenue 6.00 1/1/12 1,120,000 1,197,325
Triborough Bridge and Tunnel        
Authority, General Purpose        
Revenue (Prerefunded) 5.50 1/1/22 2,000,000 b 2,523,880
Triborough Bridge and Tunnel        
Authority, General Revenue        
(MTA Bridges and Tunnels) 5.00 11/15/27 1,640,000 1,775,956


Triborough Bridge and Tunnel        
Authority, General Revenue        
(MTA Bridges and Tunnels) 5.00 11/15/33 3,000,000 3,126,780
Triborough Bridge and Tunnel        
Authority, Subordinate Revenue        
(Insured; National Public        
Finance Guarantee Corp.) 5.00 11/15/32 5,000,000 5,084,750
Westchester Tobacco Asset        
Securitization Corporation,        
Tobacco Settlement        
Asset-Backed Bonds 5.00 6/1/26 2,000,000 1,842,700
Westchester Tobacco Asset        
Securitization Corporation,        
Tobacco Settlement        
Asset-Backed Bonds 5.13 6/1/45 1,200,000 971,244
U.S. Related--7.4%        
Children's Trust Fund of Puerto        
Rico, Tobacco Settlement        
Asset-Backed Bonds        
(Prerefunded) 6.00 7/1/10 4,695,000 b 4,789,557
Puerto Rico Aqueduct and Sewer        
Authority, Senior Lien Revenue 6.00 7/1/38 4,000,000 4,073,160
Puerto Rico Aqueduct and Sewer        
Authority, Senior Lien Revenue        
(Insured; Assured Guaranty        
Municipal Corp.) 5.00 7/1/28 2,000,000 2,056,220
Puerto Rico Commonwealth,        
Public Improvement GO 5.25 7/1/14 1,000,000 1,055,420
Puerto Rico Commonwealth,        
Public Improvement GO 6.00 7/1/39 1,500,000 1,544,175
Puerto Rico Commonwealth,        
Public Improvement GO        
(Prerefunded) 5.25 7/1/16 3,045,000 b 3,633,081
Puerto Rico Electric Power        
Authority, Power Revenue 5.50 7/1/38 3,000,000 3,037,800
Puerto Rico Infrastructure        
Financing Authority, Special        
Tax Revenue 5.00 7/1/46 2,500,000 2,218,375
Puerto Rico Sales Tax Financing        
Corporation, Sales Tax Revenue        


(First Subordinate Series) 5.38 8/1/39 2,500,000 2,502,750
Puerto Rico Sales Tax Financing        
Corporation, Sales Tax Revenue        
(First Subordinate Series) 6.00 8/1/42 3,000,000 3,149,610
Total Long-Term Municipal Investments        
(cost $354,523,067)       366,865,995
Short-Term Municipal Coupon Maturity Principal  
Investments--1.3% Rate (%) Date Amount ($) Value ($)
New York;        
New York City,        
GO Notes (LOC; JPMorgan Chase        
Bank) 0.14 3/1/10 5,000,000 c 5,000,000
New York City,        
GO Notes (LOC; JPMorgan Chase        
Bank) 0.14 3/1/10 100,000 c 100,000
Total Short-Term Municipal Investments        
(cost $5,100,000)       5,100,000
Total Investments (cost $359,623,067)     97.5% 371,965,995
Cash and Receivables (Net)     2.5% 9,626,950
Net Assets     100.0% 381,592,945

a     

At February 28, 2010, the fund had $101,725,310 or 26.7% of net assets invested in securities whose payment of principal and interest is dependent upon revenues generated from education.

b     

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

c     

Variable rate demand note - rate shown is the interest rate in effect at February 28, 2010. Maturity date represents the next demand date, or the ultimate maturity date if earlier.

At February 28, 2010, the aggregate cost of investment securities for income tax purposes was $359,623,067. Net unrealized appreciation on investments was $12,342,928 of which $15,389,667 related to appreciated investment securities and $3,046,739 related to depreciated investment securities.

Summary of Abbreviations    
ABAG Association of Bay Area Governments ACA American Capital Access
AGC ACE Guaranty Corporation AGIC Asset Guaranty Insurance Company


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


TAW Tax Anticipation Warrants TRAN Tax and Revenue Anticipation Notes
XLCA XL Capital Assurance    


Various inputs are used in determining the value of the fund's investments relating to Fair Value Measurements.
These inputs are summarized in the three broad levels listed below.
Level 1 - unadjusted quoted prices in active markets for identical investments.
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds,
credit risk, etc.)
Level 3 - significant unobservable inputs (including fund's own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing
in those securities.
The following is a summary of the inputs used as of February 28, 2010 in valuing the fund's investments:

  Level 1 -   Level 3 -  
  Unadjusted Level 2 - Other Significant  
  Quoted Significant Observable Unobservable  
Assets ($) Prices Inputs Inputs Total
Investments in Securities:        
Municipal Bonds - 371,965,995 - 371,965,995


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

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

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

Additional investment related disclosures are hereby incorporated by reference to the annual


and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.


Item 2. Controls and Procedures.

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

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

Item 3. Exhibits.

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

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FORM N-Q

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dreyfus New York AMT-Free Municipal Bond Fund

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

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

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

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

EXHIBIT INDEX

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

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