Edgar Filing: EATON VANCE MICHIGAN MUNICIPAL INCOME TRUST

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number			811-09157

Eaton Vance Michigan Municipal Income Trust
(Exact name of registrant as specified in charter)

The Eaton Vance Building, 255 State Street, Boston, Massachusetts					02109
(Address of principal executive offices)					(Zip code)

Maureen A. Gemma The Eaton Vance Building, 255 State Street, Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant’s telephone number, including area code:				(617) 482-8260

Date of fiscal year end:	November 30

Date of reporting period:		May 31, 2008

Item 1. Reports to Stockholders

Semiannual Report May 31, 2008

EATON VANCE
MUNICIPAL
INCOME
TRUSTS

CLOSED-END FUNDS:

California

Florida Plus

Massachusetts

Michigan

New Jersey

New York

Ohio

Pennsylvania

IMPORTANT NOTICES REGARDING PRIVACY,
DELIVERY OF SHAREHOLDER DOCUMENTS,
PORTFOLIO HOLDINGS AND PROXY VOTING

Privacy. The Eaton Vance organization is committed to ensuring your financial privacy. Each of the financial institutions identified below has in effect the following policy ("Privacy Policy") with respect to nonpublic personal information about its customers:

• Only such information received from you, through application forms or otherwise, and information about your Eaton Vance fund transactions will be collected. This may include information such as name, address, social security number, tax status, account balances and transactions.

• None of such information about you (or former customers) will be disclosed to anyone, except as permitted by law (which includes disclosure to employees necessary to service your account). In the normal course of servicing a customer's account, Eaton Vance may share information with unaffiliated third parties that perform various required services such as transfer agents, custodians and broker/dealers.

• Policies and procedures (including physical, electronic and procedural safeguards) are in place that are designed to protect the confidentiality of such information.

• We reserve the right to change our Privacy Policy at any time upon proper notification to you. Customers may want to review our Policy periodically for changes by accessing the link on our homepage: www.eatonvance.com.

Our pledge of privacy applies to the following entities within the Eaton Vance organization: the Eaton Vance Family of Funds, Eaton Vance Management, Eaton Vance Investment Counsel, Boston Management and Research, and Eaton Vance Distributors, Inc.

In addition, our Privacy Policy only applies to those Eaton Vance customers who are individuals and who have a direct relationship with us. If a customer's account (i.e., fund shares) is held in the name of a third-party financial adviser/broker-dealer, it is likely that only such adviser's privacy policies apply to the customer. This notice supersedes all previously issued privacy disclosures.

For more information about Eaton Vance's Privacy Policy, please call 1-800-262-1122.

Delivery of Shareholder Documents. The Securities and Exchange Commission (the "SEC") permits funds to deliver only one copy of shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called "householding" and it helps eliminate duplicate mailings to shareholders.

Eaton Vance, or your financial adviser, may household the mailing of your documents indefinitely unless you instruct Eaton Vance, or your financial adviser, otherwise.

If you would prefer that your Eaton Vance documents not be householded, please contact Eaton Vance at
1-800-262-1122, or contact your financial adviser.

Your instructions that householding not apply to delivery of your Eaton Vance documents will be effective within 30 days of receipt by Eaton Vance or your financial adviser.

Portfolio Holdings. Each Eaton Vance Fund and its underlying Portfolio (if applicable) will file a schedule of its portfolio holdings on Form N-Q with the SEC for the first and third quarters of each fiscal year. The Form N-Q will be available on the Eaton Vance website www.eatonvance.com, by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the SEC's website at www.sec.gov. Form N-Q may also be reviewed and copied at the SEC's public reference room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the public reference room).

Proxy Voting. From time to time, funds are required to vote proxies related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds' and Portfolios' Boards. You may obtain a description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to portfolio securities during the most recent 12 month period ended June 30, without charge, upon request, by calling 1-800-262-1122. This description is also available on the SEC's website at www.sec.gov.

Eaton Vance Municipal Income Trusts as of May 31, 2008

TABLE OF CONTENTS

Investment Update	2

Performance Information and Portfolio Composition

California Municipal Income Trust	4
Florida Plus Municipal Income Trust	5
Massachusetts Municipal Income Trust	6
Michigan Municipal Income Trust	7
New Jersey Municipal Income Trust	8
New York Municipal Income Trust	9
Ohio Municipal Income Trust	10
Pennsylvania Municipal Income Trust	11

Financial Statements	12

Annual Meeting of Shareholders	71

Dividend Reinvestment Plan	72

Board of Trustees’ Annual Approval of the Investment Advisory Agreements	74

Officers and Trustees	77

Eaton Vance Municipal Income Trusts as of May 31, 2008

INVESTMENT UPDATE

Eaton Vance Municipal Income Trusts (the “Trusts”) are closed-end Trusts, traded on the American Stock Exchange, which are designed to provide current income exempt from regular federal income tax and state personal income taxes, as applicable. This income is earned by investing primarily in investment-grade municipal securities.

Economic and Market Conditions

Economic growth in the first quarter of 2008 measured 0.9%, according to Commerce Department data reported in May 2008, following the 0.6% growth rate achieved in the fourth quarter 2007. The housing sector continued to struggle in the first quarter due to market concerns related to subprime mortgages. Although the weaker dollar was having a beneficial effect on export-related industries, tourism, and U.S. based multinational companies, consumers started to curtail spending as food and energy costs continued to climb, according to the U.S. Commerce Department, and consumer confidence levels fell to 25-year lows, according to University of Michigan data.

On March 16, 2008, the Federal Reserve (the “Fed”) took extraordinary actions to support orderly market functioning after it learned that Bear Stearns faced a liquidity crisis which could have triggered a wider market crisis. In addition to approving a financing arrangement to support JPMorgan Chase’s acquisition of Bear Stearns, the Fed created a new lending facility that expanded the potential collateral it would accept from member banks and extended the new lending facility to securities firms. Through May 31, 2008, the Federal Funds Rate has been lowered by a total of 325 basis points (3.25%) since September 18, 2007, to 2.00% from 5.25%, and the Discount Rate, the rate at which the Fed lends to banks and securities firms, has been lowered by a total of 400 basis points (4.00%) since August 17, 2007, to 2.25% from 6.25%. Management believes that the Fed’s actions have been aimed at providing market liquidity during the period of extreme uncertainty and tight credit conditions that first surfaced in August 2007.

Management Discussion

The Trusts invest primarily in bonds with stated maturities of 10 years or longer, as longer-maturity bonds historically have provided greater tax-exempt income for investors than shorter-maturity bonds.

Relative to their benchmark, the Lehman Brothers Municipal Bond Index – a broad-based, unmanaged index of municipal bonds – the Trusts underperformed at net asset value (NAV) for the six months ended May 31, 2008.(1) Management believes that much of the underperformance at NAV can be attributed to the broader-based credit crisis that has shaken the fixed-income markets since August 2007, which led investors to move their capital into the Treasury market, particularly in shorter-maturity bonds. This move was originally driven by uncertainty surrounding financial companies’ exposure to mortgage-backed collateralized debt obligations (CDOs). More recently, the municipal bond market has been impacted by the downgrade of major municipal bond insurers due to their exposure to mortgage-related CDO debt. As a result of an active management style that focuses on income and longer call protection, the Trusts generally hold longer-duration bonds. Although the municipal bond market stabilized and the Trusts’ performances improved from March 2008 through May 2008, management believes that investors’ flight to shorter- maturity uninsured bonds from longer-maturity insured bonds, which took place from September 2007 through February 2008, resulted in the Trusts’ relative underperformance at NAV for the period.

The ratio of yields on current coupon AAA-rated insured bonds to the yield on 30-year Treasury bonds was 98.2% as of May 31, 2008, with many individual bonds trading higher than 98.2%.(2) Management believes that this was the result of dislocation in the fixed-income marketplace caused by fears of subprime contagion, insurance companies’ mark-to-market risks and the decentralized nature of the municipal marketplace. Historically, this is a rare occurrence in the

(1)	It is not possible to invest directly in an Index. The Index’s total return does not reflect expenses that would have been incurred if an investor individually purchased or sold the securities represented in the Index.

(2)	Source: Bloomberg L.P. Yields are a compilation of a representative variety of general obligations and are not necessarily representative of a Trust’s yield. Past performance is no guarantee of future results.

The views expressed throughout this report are those of the portfolio managers and are current only through the end of the period of the report as stated on the cover. These views are subject to change at any time based upon market or other conditions, and the investment adviser disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund are based on many factors, may not be relied on as an indication of trading intent on behalf of any Eaton Vance fund. Portfolio information provided in the report may not be representative of the Trusts’ current or future investments and may change due to active management.

Trust shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.

municipal bond market and is generally considered a signal that municipal bonds are significantly undervalued compared to Treasuries.

With this backdrop, management continues to manage all of its municipal funds and trusts with the same relative value approach that it has traditionally employed – maintaining a long-term perspective when markets exhibit extreme short-term volatility. We believe this approach has provided excellent long-term benefits to our investors over time.

A Note Regarding Auction Preferred Shares (APS)

As has been widely reported since mid-February 2008, the normal functioning of the auction market in the United States for certain types of “auction rate securities” has been disrupted by an imbalance between buy and sell orders. Consistent with patterns in the broader market for auction rate securities, the Trusts have, since mid-February, experienced unsuccessful APS auctions. In the event of an unsuccessful auction, the affected APS remain outstanding, and the dividend rate reverts to the specified maximum payable rate.

On June 23, 2008, after the end of the reporting period, management announced that it had secured new financing that the Trusts intend to use to redeem a portion of their outstanding APS, subject to satisfying the notice and other requirements that apply to APS redemptions. Eaton Vance California Municipal Income Trust, Eaton Vance Florida Plus Municipal Income Trust, Eaton Vance Massachusetts Municipal Income Trust, Eaton Vance New Jersey Municipal Income Trust and Eaton Vance New York Municipal Income Trust plan to redeem approximately 6%, 36%, 7%, 3% and 15%, respectively, of their outstanding APS on or after July 7, 2008. Management is working diligently to provide liquidity solutions that will enable the Trusts to redeem their remaining outstanding APS. It is not certain when, or if, the Trusts’ remaining outstanding APS will be redeemed.

Eaton Vance California Municipal Income Trust as of May 31, 2008

pERFoRMANcE iNFoRMATioN AND poRTFoLio coMposiTioN

Trust Performance(1)

American Stock Exchange Symbol

	CEV

Average Annual Total Returns (by share price)
Six Months	7.10	%
One Year	-7.17
Five Years	3.89
Life of Trust (1/29/99)	4.99

Average Annual Total Returns (by net asset value)
Six Months	-1.60	%
One Year	-4.18
Five Years	3.83
Life of Trust (1/29/99)	5.60

Market Yields

Market Yield(2)		4.86	%
Taxable-Equivalent Market Yield(3)		8.24

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
Six Months	1.44	%
One Year	3.87
Five Years	3.67
Life of Trust (1/31/99)	4.85

Lipper Averages(5)

Lipper California Municipal Debt Funds Classification
Average Annual Total Returns (by net asset value)
Six Months	-0.57	%
One Year	-0.40
Five Years	4.33
Life of Trust (1/31/99)	4.93

Portfolio Manager: Cynthia J. Clemson

Rating Distribution*(6)

By total investments

The rating distribution presented above includes the ratings of securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements. Absent such securities, the Trust’s rating distribution at May 31, 2008, is as follows, and the average rating is AA:

AAA	49.6	%
AA	6.4	%
A	28.8	%
BBB	6.0	%
Not Rated	9.2	%

Trust Statistics(7)

·	Number of Issues:	98
·	Average Maturity:	22.7 years
·	Average Effective Maturity:	14.4 years
·	Average Call Protection:	7.9 years
·	Average Dollar Price:	$89.42
·	Leverage:**	36.2%

The leverage amount is Auction Preferred Shares at liquidation value as a percentage of the Trust’s net assets applicable to common shares plus Auction Preferred Shares. The Trust uses leverage through the issuance of preferred shares. Use of financial leverage creates an opportunity for increased income but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares).

(1) Returns are historical and are calculated by determining the percentage change in share price or net asset value with all distributions reinvested. The Trust’s performance at market share price will differ from its results at NAV. Although share price performance generally reflects investment results over time, during shorter periods, returns at share price can also be affected by factors such as changing perceptions about the Trust, market conditions, fluctuations in supply and demand for the Trust’s shares, or changes in Trust distributions. Performance results reflect the effects of leverage resulting from the Trust’s issuance of Auction Preferred Shares.

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the semiannual period by the share price at the end of the semiannual period and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 41.05% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(4) It is not possible to invest directly in an Index. The Index’s total return does not reflect the expenses that would have been incurred if an investor individually purchased or sold the securities represented in the Index. Index performance is available as of month end only.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper California Municipal Debt Funds Classification (closed-end) contained 24, 24, 24 and 13 funds for the 6-month, 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or share price (as applicable) with all distributions reinvested. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Trust’s current performance may be lower or higher than the quoted return. For performance as of the most recent month end, please refer to www.eatonvance.com.

Eaton Vance Florida Plus Municipal Income Trust† as of May 31, 2008

PERFORMANCE INFORMATION AND PORTFOLIO COMPOSITION

†	Effective June 19, 2008, the name of Eaton Vance Florida Plus Municipal Income Trust was changed to Eaton Vance National Municipal Income Trust.

Trust Performance(1)

American Stock Exchange Symbol

	FEV

Average Annual Total Returns (by share price)
Six Months	1.44	%
One Year	-8.12
Five Years	1.25
Life of Trust (1/29/99)	4.05

Average Annual Total Returns (by net asset value)
Six Months	-2.23	%
One Year	-4.61
Five Years	3.39
Life of Trust (1/29/99)	5.29

Market Yields

Market Yield(2)		5.06	%
Taxable-Equivalent Market Yield(3)		7.78

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
Six Months	1.44	%
One Year	3.87
Five Years	3.67
Life of Trust (1/31/99)	4.85

Lipper Averages(5)

Lipper Florida Municipal Debt Funds Classification††
Average Annual Total Returns (by net asset value)
Six Months	-0.89	%
One Year	-0.70
Five Years	3.59
Life of Trust (1/31/99)	4.68

Portfolio Manager: Cynthia J. Clemson

Rating Distribution*(6)

By total investments

AAA	53.3	%
AA	11.6	%
A	9.4	%
BBB	7.0	%
BB	1.0	%
B	2.4	%
CCC	1.3	%
Not Rated	14.0	%

Trust Statistics(7)

·	Number of Issues:	96
·	Average Maturity:	26.8 years
·	Average Effective Maturity:	17.3 years
·	Average Call Protection:	8.6 years
·	Average Dollar Price:	$91.81
·	Leverage:**	37.2%

(3) Taxable-equivalent figure assumes a maximum 35.00% federal income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Florida Municipal Debt Funds (closed-end) Classification contained 8, 8, 7 and 5 funds for the 6-month, 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements.

†† Subsequent to 5/31/08, the Trust’s Lipper Classification was changed to the Lipper General Municipal Debt Funds (Leveraged) Classification.

Eaton Vance Massachusetts Municipal Income Trust as of May 31, 2008

pERFoRMANcE iNFoRMATioN AND poRTFoLio coMposiTioN

Trust Performance(1)

American Stock Exchange Symbol

	MMV

Average Annual Total Returns (by share price)
Six Months	9.11	%
One Year	-1.93
Five Years	2.52
Life of Trust (1/29/99)	4.94

Average Annual Total Returns (by net asset value)
Six Months	-1.69	%
One Year	-4.66
Five Years	3.67
Life of Trust (1/29/99)	5.23

Market Yields

Market Yield(2)		4.60	%
Taxable-Equivalent Market Yield(3)		7.47

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
Six Months	1.44	%
One Year	3.87
Five Years	3.67
Life of Trust (1/31/99)	4.85

Lipper Averages(5)

Lipper Other States Municipal Debt Funds Classification
Average Annual Total Returns (by net asset value)
Six Months	-0.32	%
One Year	0.84
Five Years	3.75
Life of Trust (1/31/99)	5.01

Portfolio Manager: Robert B. MacIntosh, CFA

Rating Distribution*(6)

By total investments

AAA	38.8	%
AA	15.2	%
A	27.3	%
BBB	8.0	%
BB	1.2	%
Not Rated	9.5	%

Trust Statistics(7)

·	Number of Issues:	62
·	Average Maturity:	27.7 years
·	Average Effective Maturity:	19.4 years
·	Average Call Protection:	8.4 years
·	Average Dollar Price:	$94.33
·	Leverage:**	35.7 %

(1) Returns are historical and are calculated by determining the percentage change in share price or net asset value with all distributions reinvested. The Trust’s performance at market share price will differ from its results at NAV. Although share price performance generally reflects investment results over time, during shorter periods, returns at share price can also be affected by factors such as changing perceptions about the Trust, market conditions, fluctuations in supply and demand for the Trust’s shares, or changes in Trust distributions. Performance results reflect the effects of leverage resulting from the Trust’s issuance of Auction Preferred Shares.

(3) Taxable-equivalent figure assumes a maximum 38.45% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Other States Municipal Debt Funds Classification (closed-end) contained 43, 43, 43 and 20 funds for the 6-month, 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements.

Eaton Vance Michigan Municipal Income Trust as of May 31, 2008

pERFoRMANcE iNFoRMATioN AND poRTFoLio coMposiTioN

Trust Performance(1)

American Stock Exchange Symbol

	EMI

Average Annual Total Returns (by share price)
Six Months	1.66	%
One Year	-9.84
Five Years	0.51
Life of Trust (1/29/99)	3.73

Average Annual Total Returns (by net asset value)
Six Months	-1.90	%
One Year	-2.64
Five Years	3.38
Life of Trust (1/29/99)	5.07

Market Yields

Market Yield(2)		4.91	%
Taxable-Equivalent Market Yield(3)		7.90

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
Six Months	1.44	%
One Year	3.87
Five Years	3.67
Life of Trust (1/31/99)	4.85

Lipper Averages(5)

Lipper Michigan Municipal Debt Funds Classification
Average Annual Total Returns (by net asset value)
Six Months	-0.69	%
One Year	0.47
Five Years	3.61
Life of Trust (1/31/99)	5.12

Portfolio Manager: William H. Ahern, CFA

Rating Distribution*(6)

By total investments

AAA	43.1	%
AA	13.8	%
A	20.9	%
BBB	11.9	%
BB	3.1	%
CCC	0.9	%
Not Rated	6.3	%

Trust Statistics(7)

·	Number of Issues:	59
·	Average Maturity:	22.6 years
·	Average Effective Maturity:	12.3 years
·	Average Call Protection:	5.4 years
·	Average Dollar Price:	$95.59
·	Leverage:**	37.3%

(3) Taxable-equivalent figure assumes a maximum 37.83% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Michigan Municipal Debt Funds Classification (closed-end) contained 4, 4, 4, and 3 funds for the 6-month, 1-year, 5-year, and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements.

Eaton Vance New Jersey Municipal Income Trust as of May 31, 2008

pERFoRMANcE iNFoRMATioN AND poRTFoLio coMposiTioN

Trust Performance(1)

American Stock Exchange Symbol

	EVJ

Average Annual Total Returns (by share price)
Six Months	3.36	%
One Year	-10.75
Five Years	1.77
Life of Trust (1/29/99)	4.33

Average Annual Total Returns (by net asset value)
Six Months	-2.27	%
One Year	-5.30
Five Years	4.30
Life of Trust (1/29/99)	5.44

Market Yields

Market Yield(2)		4.73	%
Taxable-Equivalent Market Yield(3)		7.99

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
Six Months	1.44	%
One Year	3.87
Five Years	3.67
Life of Trust (1/31/99)	4.85

Lipper Averages(5)

Lipper New Jersey Municipal Debt Funds Classification
Average Annual Total Returns (by net asset value)
Six Months	-1.23	%
One Year	-1.19
Five Years	4.05
Life of Trust (1/31/99)	4.93

Portfolio Manager: Robert B. MacIntosh, CFA

Rating Distribution*(6)

By total investments

AAA	45.0	%
AA	7.0	%
A	20.3	%
BBB	21.2	%
BB	0.4	%
B	1.3	%
Not Rated	4.8	%

Trust Statistics(7)

·	Number of Issues:	74
·	Average Maturity:	25.3 years
·	Average Effective Maturity:	17.7 years
·	Average Call Protection:	9.0 years
·	Average Dollar Price:	$90.81
·	Leverage:**	36.6%

(3) Taxable-equivalent figure assumes a maximum 40.83% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper New Jersey Municipal Debt Funds Classification (closed-end) contained 10, 10, 10 and 6 funds for the 6-month, 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements.

Eaton Vance New York Municipal Income Trust as of May 31, 2008

pERFoRMANcE iNFoRMATioN AND poRTFoLio coMposiTioN

Trust Performance(1)

American Stock Exchange Symbol

	EVY

Average Annual Total Returns (by share price)
Six Months	4.77	%
One Year	-4.49
Five Years	4.11
Life of Trust (1/29/99)	5.62

Average Annual Total Returns (by net asset value)
Six Months	-1.39	%
One Year	-4.04
Five Years	3.97
Life of Trust (1/29/99)	5.81

Market Yields

Market Yield(2)		4.92	%
Taxable-Equivalent Market Yield(3)		8.13

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
Six Months	1.44	%
One Year	3.87
Five Years	3.67
Life of Trust (1/31/99)	4.85

Lipper Averages(5)

Lipper New York Municipal Debt Funds Classification
Average Annual Total Returns (by net asset value)
Six Months	0.11	%
One Year	0.13
Five Years	4.46
Life of Trust (1/31/99)	5.10

Portfolio Manager: Craig R. Brandon, CFA

Rating Distribution*(6)

By total investments

AAA	33.6	%
AA	27.7	%
A	16.0	%
BBB	10.3	%
BB	2.0	%
B	1.7	%
Not Rated	8.7	%

Trust Statistics(7)

·	Number of Issues:	76
·	Average Maturity:	23.9 years
·	Average Effective Maturity:	16.2 years
·	Average Call Protection:	8.9 years
·	Average Dollar Price:	$97.07
·	Leverage:**	36.1%

(3) Taxable-equivalent figure assumes a maximum 39.45% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper New York Municipal Debt Funds Classification (closed-end) contained 16, 16, 16 and 6 funds for the 6-month, 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements.

Eaton Vance Ohio Municipal Income Trust as of May 31, 2008

pERFoRMANcE iNFoRMATioN AND poRTFoLio coMposiTioN

Trust Performance(1)

American Stock Exchange Symbol

	EVO

Average Annual Total Returns (by share price)
Six Months	1.92	%
One Year	-9.78
Five Years	0.18
Life of Trust (1/29/99)	4.07

Average Annual Total Returns (by net asset value)
Six Months	-2.44	%
One Year	-2.94
Five Years	3.93
Life of Trust (1/29/99)	5.18

Market Yields

Market Yield(2)		4.78	%
Taxable-Equivalent Market Yield(3)		7.87

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
Six Months	1.44	%
One Year	3.87
Five Years	3.67
Life of Trust (1/31/99)	4.85

Lipper Averages(5)

Lipper Other States Municipal Debt Funds Classification
Average Annual Total Returns (by net asset value)
Six Months	-0.32	%
One Year	0.84
Five Years	3.75
Life of Trust (1/31/99)	5.01

Portfolio Manager: William H. Ahern, CFA

Rating Distribution*(6)

By total investments

AAA	46.1	%
AA	17.8	%
A	18.6	%
BBB	5.7	%
B	1.9	%
Not Rated	9.9	%

Trust Statistics(7)

·	Number of Issues:	77
·	Average Maturity:	22.2 years
·	Average Effective Maturity:	13.5 years
·	Average Call Protection:	7.4 years
·	Average Dollar Price:	$95.21
·	Leverage:**	37.0%

(3) Taxable-equivalent figure assumes a maximum 39.26% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Other States Municipal Debt Funds Classification (closed-end) contained 43, 43, 43 and 20 funds for the 6-month, 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements.

Eaton Vance Pennsylvania Municipal Income Trust as of May 31, 2008

pERFoRMANcE iNFoRMATioN AND poRTFoLio coMposiTioN

Trust Performance(1)

American Stock Exchange Symbol

	EVP

Average Annual Total Returns (by share price)
Six Months	3.20	%
One Year	-6.80
Five Years	2.23
Life of Trust (1/29/99)	4.21

Average Annual Total Returns (by net asset value)
Six Months	-0.55	%
One Year	-0.92
Five Years	4.39
Life of Trust (1/29/99)	5.47

Market Yields

Market Yield(2)		4.93	%
Taxable-Equivalent Market Yield(3)		7.83

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
Six Months	1.44	%
One Year	3.87
Five Years	3.67
Life of Trust (1/31/99)	4.85

Lipper Averages(5)

Lipper Pennsylvania Municipal Debt Funds Classification
Average Annual Total Returns (by net asset value)
Six Months	-1.09	%
One Year	-0.84
Five Years	3.17
Life of Trust (1/31/99)	4.86

Portfolio Manager: Adam A. Weigold, CFA

Rating Distribution*(6)

By total investments

AAA	53.1	%
AA	12.7	%
A	13.5	%
BBB	12.0	%
BB	0.8	%
CCC	1.6	%
Not Rated	6.3	%

Trust Statistics(7)

·	Number of Issues:	74
·	Average Maturity:	22.1 years
·	Average Effective Maturity:	10.9 years
·	Average Call Protection:	6.1 years
·	Average Dollar Price:	$97.77
·	Leverage:**	36.6%

(3) Taxable-equivalent figure assumes a maximum 37.00% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Pennsylvania Municipal Debt Funds Classification (closed-end) contained 7, 7, 7 and 4 funds for the 6-month, 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements.

Eaton Vance California Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 164.8%
Principal Amount (000's omitted)		Security	Value
Education — 11.1%
$	2,770	California Educational Facilities Authority, (Lutheran University), 5.00%, 10/1/29	$	2,597,097
	500	California Educational Facilities Authority, (Pepperdine University), 5.00%, 11/1/29		507,350
	1,850	California Educational Facilities Authority, (Santa Clara University), 5.00%, 9/1/23		1,915,120
	4,000	California Educational Facilities Authority, (Stanford University), 5.125%, 1/1/31		4,028,200
	2,500	San Diego County, Certificates of Participation, (University of San Diego), 5.375%, 10/1/41		2,519,600
			$	11,567,367
Electric Utilities — 3.5%
$	2,500	Chula Vista, (San Diego Gas), (AMT), 5.00%, 12/1/27	$	2,439,175
	300	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 11.25%, 7/1/25⁽¹⁾⁽²⁾		302,247
	900	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 11.25%, 7/1/37⁽¹⁾⁽²⁾		835,218
			$	3,576,640
Escrowed / Prerefunded — 0.4%
$	405	Santa Margarita Water District, Prerefunded to 9/1/09, 6.20%, 9/1/20	$	433,532
			$	433,532
General Obligations — 12.7%
$	3,000	California, 5.50%, 3/1/26	$	3,202,740
	3,500	California, 5.50%, 11/1/33		3,615,535
	1,610	California, (AMT), 5.05%, 12/1/36		1,539,756
	10	San Francisco Bay Area Rapid Transit District, (Election of 2004), 4.75%, 8/1/37		10,029
	4,780	San Francisco Bay Area Rapid Transit District, (Election of 2004), 4.75%, 8/1/37⁽³⁾		4,793,814
			$	13,161,874
Health Care-Miscellaneous — 0.3%
$	300	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), 6.50%, 10/1/37	$	292,494
			$	292,494

Principal Amount (000's omitted)		Security	Value
Hospital — 29.2%
$	2,435	California Health Facilities Financing Authority, (Cedars-Sinai Medical Center), 5.00%, 11/15/34	$	2,363,654
	3,100	California Health Facilities Financing Authority, (Kaiser Permanente), 5.00%, 4/1/37		2,983,068
	870	California Health Facilities Financing Authority, (Sutter Health), Variable Rate, 15.14%, 11/15/46⁽¹⁾⁽²⁾		863,284
	750	California Infrastructure and Economic Development Bank, (Kaiser Hospital), 5.50%, 8/1/31		760,875
	500	California Statewide Communities Development Authority, (Catholic Healthcare West), 5.50%, 7/1/30		508,195
	670	California Statewide Communities Development Authority, (Catholic Healthcare West), 5.50%, 7/1/31		679,527
	280	California Statewide Communities Development Authority, (Catholic Healthcare West), 5.625%, 7/1/35		284,617
	3,900	California Statewide Communities Development Authority, (Huntington Memorial Hospital), 5.00%, 7/1/35		3,781,674
	765	California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/34		747,459
	1,750	California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/36		1,713,582
	850	California Statewide Communities Development Authority, (Kaiser Permanente), 5.00%, 3/1/41		811,121
	1,650	California Statewide Communities Development Authority, (Kaiser Permanente), 5.50%, 11/1/32		1,661,484
	1,750	California Statewide Communities Development Authority, (Sonoma County Indian Health), 6.40%, 9/1/29		1,793,207
	1,500	California Statewide Communities Development Authority, (Sutter Health), 5.50%, 8/15/28		1,530,870
	1,500	Duarte, Hope National Medical Center, (City of Hope), 5.25%, 4/1/24		1,511,265
	410	Tahoe Forest Hospital District, 5.85%, 7/1/22		415,670
	2,000	Torrance Hospital, (Torrance Memorial Medical Center), 5.50%, 6/1/31		2,014,260
	1,250	Turlock, (Emanuel Medical Center, Inc.), 5.375%, 10/15/34		1,137,875
	2,780	Washington Township Health Care District, 5.00%, 7/1/32		2,694,710
	2,000	Washington Township Health Care District, 5.25%, 7/1/29		2,010,360
			$	30,266,757
Housing — 2.6%
$	1,750	California Housing Finance Agency, (AMT), 4.75%, 8/1/42	$	1,507,940
	735	Commerce (Hermitage III Senior Apartments), 6.50%, 12/1/29		749,005
	426	Commerce (Hermitage III Senior Apartments), 6.85%, 12/1/29		430,266
			$	2,687,211

See notes to financial statements
12

Eaton Vance California Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

Principal Amount (000's omitted)		Security	Value
Industrial Development Revenue — 1.6%
$	2,000	California Statewide Communities Development Authority, (Anheuser Busch Project), 4.80%, 9/1/46	$	1,692,640
			$	1,692,640
Insured-Education — 6.1%
$	3,270	California Educational Facilities Authority, (Pooled College and University), (MBIA), 5.10%, 4/1/23	$	3,338,081
	3,000	California State University, (AMBAC), 5.00%, 11/1/33		3,015,210
			$	6,353,291
Insured-Electric Utilities — 9.1%
$	2,500	California Pollution Control Financing Authority, (Pacific Gas and Electric), (MBIA), (AMT), 5.35%, 12/1/16	$	2,596,125
	3,250	California Pollution Control Financing Authority, (Southern California Edison Co.), (MBIA), (AMT), 5.55%, 9/1/31		3,279,477
	3,625	Los Angeles Department of Water and Power, Power System Revenue, (FSA), 4.625%, 7/1/37		3,599,045
			$	9,474,647
Insured-Escrowed / Prerefunded — 4.2%
$	5,130	Foothill/Eastern Transportation Corridor Agency, (FSA), Escrowed to Maturity, 0.00%, 1/1/26	$	2,220,007
	1,995	Puerto Rico Electric Power Authority, (FSA), Prerefunded to 7/1/10, 5.25%, 7/1/29⁽³⁾		2,135,940
			$	4,355,947
Insured-General Obligations — 14.1%
$	7,000	Coast Community College District, (Election of 2002), (FSA), 0.00%, 8/1/34	$	1,704,850
	4,825	Coast Community College District, (Election of 2002), (FSA), 0.00%, 8/1/35		1,109,460
	2,500	Puerto Rico, (FSA), Variable Rate, 9.90%, 7/1/27⁽¹⁾⁽²⁾		2,972,150
	4,800	San Diego Unified School District, (MBIA), 5.50%, 7/1/24⁽³⁾		5,463,696
	7,995	Sweetwater Union High School District, (Election 2000), (FSA), 0.00%, 8/1/25		3,424,338
			$	14,674,494
Insured-Hospital — 11.8%
$	3,200	California Statewide Communities Development Authority, (Children's Hospital Los Angeles), (MBIA), 5.25%, 8/15/29⁽⁴⁾	$	3,279,712
	5,000	California Statewide Communities Development Authority, (Sutter Health), (AMBAC), 5.00%, 11/15/38		5,097,550

Principal Amount (000's omitted)		Security	Value
Insured-Hospital (continued)
$	3,735	California Statewide Communities Development Authority, (Sutter Health), (FSA), 5.75%, 8/15/27⁽³⁾	$	3,858,815
			$	12,236,077
Insured-Lease Revenue / Certificates of Participation — 11.9%
$	6,500	Anaheim Public Financing Authority, Lease Revenue, (Public Improvements), (FSA), 0.00%, 9/1/17	$	4,299,555
	10,750	Anaheim Public Financing Authority, Lease Revenue, (Public Improvements), (FSA), 0.00%, 9/1/25		4,396,535
	3,600	San Diego County Water Authority, (FSA), 5.00%, 5/1/38		3,701,952
			$	12,398,042
Insured-Other Revenue — 1.7%
$	1,855	Golden State Tobacco Securitization Corp., (FGIC), 5.00%, 6/1/38	$	1,790,743
			$	1,790,743
Insured-Special Tax Revenue — 5.0%
$	1,185	Palm Springs Community Redevelopment Agency, Tax Allocation (Merged Project No. 1), (AMBAC), 5.00%, 9/1/30	$	1,194,516
	24,800	Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54		1,782,872
	4,225	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44		563,150
	8,380	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45		1,053,031
	5,270	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46		622,545
			$	5,216,114
Insured-Transportation — 6.8%
$	5,000	Alameda Corridor Transportation Authority, (AMBAC), 0.00%, 10/1/29	$	1,577,650
	8,000	Alameda Corridor Transportation Authority, (MBIA), 0.00%, 10/1/31		2,240,000
	740	Puerto Rico Highway and Transportation Authority, (AGC), (CIFG), 5.25%, 7/1/41⁽³⁾		809,283
	10,000	San Joaquin Hills Transportation Corridor Agency, (MBIA), 0.00%, 1/15/32		2,451,600
			$	7,078,533
Insured-Water and Sewer — 2.5%
$	2,710	San Francisco City and County Public Utilities Commission, (FSA), 4.25%, 11/1/33	$	2,531,628
			$	2,531,628

See notes to financial statements
13

Eaton Vance California Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Water Revenue — 3.2%
$	4,400	Los Angeles Department of Water and Power, (MBIA), 3.00%, 7/1/30	$	3,323,716
			$	3,323,716
Lease Revenue / Certificates of Participation — 4.2%
$	4,000	Sacramento City Financing Authority, 5.40%, 11/1/20	$	4,389,080
			$	4,389,080
Other Revenue — 2.1%
$	385	California Infrastructure and Economic Development Bank, (Performing Arts Center of Los Angeles), 5.00%, 12/1/32	$	389,647
	580	California Infrastructure and Economic Development Bank, (Performing Arts Center of Los Angeles), 5.00%, 12/1/37		584,802
	1,420	Golden State Tobacco Securitization Corp., 5.75%, 6/1/47		1,239,291
			$	2,213,740
Senior Living / Life Care — 0.7%
$	175	California Statewide Communities Development Authority, (Senior Living - Presbyterian Homes), 4.75%, 11/15/26	$	156,349
	700	California Statewide Communities Development Authority, (Senior Living - Presbyterian Homes), 4.875%, 11/15/36		596,505
			$	752,854
Special Tax Revenue — 17.0%
$	1,500	Bonita Canyon Public Financing Authority, 5.375%, 9/1/28	$	1,418,490
	285	Brentwood Infrastructure Financing Authority, 5.00%, 9/2/26		247,485
	460	Brentwood Infrastructure Financing Authority, 5.00%, 9/2/34		380,346
	1,665	Corona Public Financing Authority, 5.80%, 9/1/20		1,659,772
	200	Eastern California Municipal Water District, Special Tax Revenue, District No. 2004-27 Cottonwood, 5.00%, 9/1/27		180,604
	500	Eastern California Municipal Water District, Special Tax Revenue, District No. 2004-27 Cottonwood, 5.00%, 9/1/36		432,610
	1,590	Fontana Redevelopment Agency, (Jurupa Hills), 5.60%, 10/1/27		1,622,245
	1,305	Lincoln Public Financing Authority, Improvement Bond Act of 1915, (Twelve Bridges), 6.20%, 9/2/25		1,321,874
	420	Moreno Valley Unified School District, (Community School District No. 2003-2), 5.75%, 9/1/24		408,089
	750	Moreno Valley Unified School District, (Community School District No. 2003-2), 5.90%, 9/1/29		716,303
	2,450	Oakland Joint Powers Financing Authority, 5.40%, 9/2/18		2,520,119
	995	Oakland Joint Powers Financing Authority, 5.50%, 9/2/24		1,021,029
	1,325	San Pablo Redevelopment Agency, 5.65%, 12/1/23		1,361,265
	1,095	Santa Margarita Water District, 6.20%, 9/1/20		1,121,915
	250	Santaluz Community Facilities District No. 2, 6.10%, 9/1/21		250,363

Principal Amount (000's omitted)		Security	Value
Special Tax Revenue (continued)
$	500	Santaluz Community Facilities District No. 2, 6.20%, 9/1/30	$	500,295
	250	Temecula Unified School District, 5.00%, 9/1/27		223,103
	400	Temecula Unified School District, 5.00%, 9/1/37		340,508
	500	Turlock Public Financing Authority, 5.45%, 9/1/24		490,710
	500	Tustin Community Facilities District, 6.00%, 9/1/37		475,855
	1,000	Whittier Public Financing Authority, (Greenleaf Avenue Redevelopment), 5.50%, 11/1/23		994,300
			$	17,687,280
Transportation — 1.1%
$	1,170	Port of Redwood City, (AMT), 5.125%, 6/1/30	$	1,108,692
			$	1,108,692
Water and Sewer — 1.9%
$	1,840	California Department of Water Resources, 5.00%, 12/1/29	$	1,922,506
			$	1,922,506
Total Tax-Exempt Investments — 164.8% (identified cost $171,153,242)			$	171,185,899
Other Assets, Less Liabilities — (8.0)%			$	(8,316,207	)
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (56.8)%			$	(59,004,012	)
Net Assets Applicable to Common Shares — 100.0%			$	103,865,680

AGC - Assured Guaranty Corp.

AMBAC - AMBAC Financial Group, Inc.

AMT - Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.

CIFG - CIFG Assurance North America, Inc.

DRIVERS - Derivative Inverse Tax-Exempt Receipts

FGIC - Financial Guaranty Insurance Company

FSA - Financial Security Assurance, Inc.

MBIA - Municipal Bond Insurance Association

See notes to financial statements
14

Eaton Vance California Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

The Trust invests primarily in debt securities issued by California municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2008, 46.4% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 0.5% to 21.0% of total investments.

⁽¹⁾Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2008, the aggregate value of the securities is $4,972,899 or 4.8% of the Trust's net assets applicable to common shares.

⁽²⁾Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at May 31, 2008.

⁽³⁾Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust.

⁽⁴⁾Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts.

See notes to financial statements
15

Eaton Vance Florida Plus Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 166.1%
Principal Amount (000's omitted)		Security	Value
Education — 3.5%
$	1,000	Massachusetts Development Finance Agency, (Boston University), 6.00%, 5/15/59	$	1,089,120
	1,000	Volusia County Educational Facilities Authority, (Embry Riddle Aeronautical), 5.75%, 10/15/29		1,003,330
			$	2,092,450
Escrowed / Prerefunded — 0.8%
$	435	Vista Lakes Community Development District, Prerefunded to 5/1/10, 7.20%, 5/1/32	$	474,533
			$	474,533
Health Care-Miscellaneous — 0.6%
$	147	Osceola County Industrial Development Authority, Community Provider Pooled Loan, 7.75%, 7/1/17	$	147,084
	200	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), 6.50%, 10/1/37		194,996
			$	342,080
Hospital — 14.6%
$	515	California Health Facilities Financing Authority, (Kaiser Permanente), 5.00%, 4/1/37	$	495,574
	275	California Statewide Communities Development Authority, (Catholic Healthcare West), 5.50%, 7/1/30		279,507
	365	California Statewide Communities Development Authority, (Catholic Healthcare West), 5.50%, 7/1/31		370,190
	150	California Statewide Communities Development Authority, (Catholic Healthcare West), 5.625%, 7/1/35		152,473
	350	Camden County, NJ, Improvement Authority, (Cooper Health System), 5.00%, 2/15/35		309,585
	210	Highlands County Health Facilities Authority, (Adventist Health System), 5.25%, 11/15/36		207,396
	2,000	Michigan Hospital Finance Authority, (Henry Ford Health System), 5.25%, 11/15/32		1,990,400
	2,500	New York Dormitory Authority, (Memorial Sloan Kettering Cancer Center), 5.00%, 7/1/36		2,577,850
	315	New York Dormitory Authority, (Orange Regional Medical Center), 6.125%, 12/1/29		316,720
	635	New York Dormitory Authority, (Orange Regional Medical Center), 6.25%, 12/1/37		640,594
	1,400	West Orange Health Care District, 5.80%, 2/1/31		1,425,466
			$	8,765,755

Principal Amount (000's omitted)		Security	Value
Housing — 15.2%
$	330	California Housing Finance Agency, (AMT), 4.75%, 8/1/42	$	284,354
	650	Capital Trust Agency, (Atlantic Housing Foundation), 5.30%, 7/1/35		566,390
	2,000	Delaware Housing Authority, (Senior Single Family Mortgage), (AMT), 5.30%, 1/1/49		1,879,880
	505	Escambia County Housing Finance Authority, Single Family Mortgage, (Multi-County Program), (AMT), 5.50%, 10/1/31		506,055
	475	Florida Capital Projects Finance Authority, Student Housing Revenue, (Florida University), Prerefunded to 8/15/10, 7.75%, 8/15/20		531,629
	2,000	Maryland Community Development Authority, Multifamily Housing, (AMT), 4.85%, 9/1/47		1,747,300
	710	Massachusetts Housing Finance Agency, (AMT), 5.30%, 12/1/37		692,420
	3,000	Virginia Housing Development Authority, (AMT), 5.10%, 10/1/35		2,884,380
			$	9,092,408
Industrial Development Revenue — 16.5%
$	1,000	Brazos River, TX, Harbor Navigation District, (Dow Chemical Co.), (AMT), 5.95%, 5/15/33	$	1,019,260
	754	Broward County, (Lynxs Cargoport), (AMT), 6.75%, 6/1/19		735,826
	1,060	Capital Trust Agency, (Fort Lauderdale Project), (AMT), 5.75%, 1/1/32		974,469
	2,000	Denver, CO, City and County Special Facilities, (United Airlines), (AMT), 5.25%, 10/1/32		1,384,400
	1,000	Houston, TX, Airport System, (Continental Airlines), (AMT), 6.75%, 7/1/29		856,000
	2,250	Liberty Development Corp., NY, (Goldman Sachs Group, Inc.), 5.25%, 10/1/35⁽¹⁾		2,353,874
	280	Phoenix, AZ, Industrial Development Authority, (America West Airlines, Inc.), (AMT), 6.25%, 6/1/19		240,643
	650	Puerto Rico Port Authority, (American Airlines), (AMT), 6.30%, 6/1/23		436,312
	2,000	St. John Baptist Parish, LA, (Marathon Oil Corp.), 5.125%, 6/1/37		1,890,520
			$	9,891,304
Insured-Education — 2.9%
$	1,735	University of Vermont and State Agricultural College, (MBIA), 5.00%, 10/1/40	$	1,759,134
			$	1,759,134
Insured-Electric Utilities — 2.7%
$	1,600	Burke County, GA, Development Authority, (Georgia Power Co.), (MBIA), (AMT), 5.45%, 5/1/34⁽²⁾	$	1,600,128
			$	1,600,128

See notes to financial statements
16

Eaton Vance Florida Plus Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Escrowed / Prerefunded — 1.2%
$	650	Dade County, Professional Sports Franchise Facility, (MBIA), Escrowed to Maturity, 5.25%, 10/1/30	$	708,071
			$	708,071
Insured-General Obligations — 9.1%
$	1,250	King County, WA, Public Hospital District No. 1, (AGC), 5.00%, 12/1/37	$	1,276,650
	1,500	Puerto Rico, (FSA), Variable Rate, 9.90%, 7/1/27⁽³⁾⁽⁴⁾		1,783,290
	5,040	San Juan, CA, Unified School District, (FSA), 0.00%, 8/1/23		2,404,030
			$	5,463,970
Insured-Hospital — 15.5%
$	2,500	Illinois Finance Authority, (Rush University Medical Center), (MBIA), 5.25%, 11/1/35	$	2,460,600
	3,250	Indiana Health and Educational Facilities Finance Authority, (Sisters of St. Francis Health Services), (FSA), 5.25%, 5/15/41		3,302,618
	1,000	Maricopa County, AZ, Industrial Development Authority, (Mayo Clinic Hospital), (AMBAC), 5.25%, 11/15/37		1,009,970
	2,500	Maryland Health and Higher Educational Facilities Authority, (Lifebridge Health), (AGC), 4.75%, 7/1/47⁽¹⁾		2,473,200
			$	9,246,388
Insured-Housing — 1.8%
$	1,100	Broward County Housing Finance Authority, Multifamily Housing, (Venice Homes Apartments), (FSA), (AMT), 5.70%, 1/1/32	$	1,077,318
			$	1,077,318
Insured-Lease Revenue / Certificates of Participation — 8.2%
$	1,795	Newberry, SC, (Newberry County School District), (AGC), 5.00%, 12/1/30	$	1,829,859
	3,000	San Diego County, CA, Water Authority, (FSA), 5.00%, 5/1/38		3,084,960
			$	4,914,819
Insured-Special Tax Revenue — 10.3%
$	670	Baton Rouge, LA, Public Improvement, (FSA), 4.25%, 8/1/32	$	623,938
	690	Louisiana Gas and Fuels Tax, (FGIC), (FSA), 5.00%, 5/1/41		703,076
	3,040	Miami-Dade County, Special Obligation, (MBIA), 0.00%, 10/1/35		653,752
	5,000	Miami-Dade County, Special Obligation, (MBIA), 0.00%, 10/1/38		892,950

Principal Amount (000's omitted)		Security	Value
Insured-Special Tax Revenue (continued)
$	5,610	Miami-Dade County, Special Obligation, (MBIA), 0.00%, 10/1/40	$	877,909
	14,850	Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54		1,067,567
	2,535	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44		337,890
	5,030	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45		632,070
	3,165	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46		373,881
			$	6,163,033
Insured-Transportation — 18.7%
$	1,960	Central Puget Sound Regional Transportation Authority, WA, Sales Revenue, (FSA), 5.00%, 11/1/34	$	2,019,310
	670	Chicago, IL, (O'Hare International Airport), (FSA), 4.50%, 1/1/38		640,426
	240	Dallas-Fort Worth, TX, International Airport, (MBIA), (AMT), 6.10%, 11/1/24		243,427
	200	Dallas-Fort Worth, TX, International Airport, (MBIA), (AMT), 6.25%, 11/1/28		202,956
	2,250	Florida Ports Financing Commission, (FGIC), (AMT), 5.50%, 10/1/29		2,257,965
	650	Metropolitan Washington, DC, Airport Authority System, (FSA), (AMT), 5.00%, 10/1/34		623,597
	3,975	Miami-Dade County, Aviation Revenue, (Miami International Airport), (AGC), (CIFG), (AMT), 5.00%, 10/1/38		3,784,240
	1,415	San Antonio, TX, Airport System, (FSA), (AMT), 5.25%, 7/1/32		1,401,572
			$	11,173,493
Insured-Water and Sewer — 22.4%
$	3,755	Austin, TX, Water and Wastewater System Revenue, (FSA), 5.00%, 11/15/33	$	3,853,907
	1,000	Emerald Coast, Utility Authority Revenue, (FGIC), 4.75%, 1/1/31		926,780
	3,335	Fernley, NV, Water and Sewer (AGC), 5.00%, 2/1/38		3,422,244
	640	Miami Beach, Storm Water, (FGIC), 5.375%, 9/1/30		651,680
	1,000	Okeechobee Utility Authority, (FSA), 5.00%, 10/1/25		1,026,660
	530	Pearland, TX, Waterworks and Sewer Systems, (FSA), 4.50%, 9/1/34		513,294
	1,156	Tampa Bay Water Utility System, (FGIC), 4.75%, 10/1/27⁽¹⁾		1,158,368
	1,844	Tampa Bay Water Utility System, (FGIC), Prerefunded to 10/1/08, 4.75%, 10/1/27⁽¹⁾		1,879,792
			$	13,432,725
Nursing Home — 1.7%
$	265	Orange County Health Facilities Authority, (Westminster Community Care), 6.60%, 4/1/24	$	267,889

See notes to financial statements
17

Eaton Vance Florida Plus Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

Principal Amount (000's omitted)		Security	Value
Nursing Home (continued)
$	735	Orange County Health Facilities Authority, (Westminster Community Care), 6.75%, 4/1/34	$	745,172
			$	1,013,061
Other Revenue — 4.5%
$	16,500	Buckeye Tobacco Settlement Financing Authority, OH, 0.00%, 6/1/47	$	896,115
	1,000	Michigan Tobacco Settlement Finance Authority, 6.00%, 6/1/48		891,700
	1,000	Salt Verde, AZ, Financial Corporation, Senior Gas Revenue, 5.00%, 12/1/37		888,880
			$	2,676,695
Special Tax Revenue — 15.9%
$	85	Covington Park Community Development District, (Capital Improvements), 5.00%, 5/1/21	$	85,887
	500	Covington Park Community Development District, (Capital Improvements), 5.00%, 5/1/31		485,375
	240	Dupree Lakes Community Development District, 5.00%, 11/1/10		231,864
	205	Dupree Lakes Community Development District, 5.00%, 5/1/12		191,577
	355	Dupree Lakes Community Development District, 5.375%, 5/1/37		283,652
	310	Heritage Harbor South Community Development District, (Capital Improvements), 6.20%, 5/1/35		313,187
	230	Heritage Springs Community Development District, 5.25%, 5/1/26		213,468
	665	Heritage Springs Community Development District, 6.75%, 5/1/21		665,432
	340	New River Community Development District, (Capital Improvements), 5.00%, 5/1/13		311,093
	140	New River Community Development District, (Capital Improvements), 5.35%, 5/1/38		107,451
	340	North Springs Improvement District, (Heron Bay), 5.20%, 5/1/27		253,779
	595	North Springs Improvement District, (Heron Bay), 7.00%, 5/1/19		595,696
	985	River Hall Community Development District, (Capital Improvements), 5.45%, 5/1/36		774,358
	475	Southern Hills Plantation I Community Development District, 5.80%, 5/1/35		417,454
	600	Sterling Hill Community Development District, 6.20%, 5/1/35		605,424
	500	Stoneybrook West Community Development District, 7.00%, 5/1/32		516,165
	990	Tisons Landing Community Development District, 5.625%, 5/1/37		696,604

Principal Amount (000's omitted)		Security	Value
Special Tax Revenue (continued)
$	740	University Square Community Development District, 6.75%, 5/1/20	$	751,551
	685	Waterlefe Community Development District, 6.95%, 5/1/31		713,592
	175	West Palm Beach Community Redevelopment Agency, (Northwood Pleasant Community), 5.00%, 3/1/29		158,510
	1,270	West Palm Beach Community Redevelopment Agency, (Northwood Pleasant Community), 5.00%, 3/1/35		1,120,915
			$	9,493,034
Total Tax-Exempt Investments — 166.1% (identified cost $100,505,319)			$	99,380,399
Other Assets, Less Liabilities — (6.8)%			$	(4,043,649	)
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (59.3)%			$	(35,507,238	)
Net Assets Applicable to Common Shares — 100.0%			$	59,829,512

AGC - Assured Guaranty Corp.

AMBAC - AMBAC Financial Group, Inc.

AMT - Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.

CIFG - CIFG Assurance North America, Inc.

FGIC - Financial Guaranty Insurance Company

FSA - Financial Security Assurance, Inc.

MBIA - Municipal Bond Insurance Association

At May 31, 2008, the concentration of the Trust's investments in the various states, determined as a percentage of total investments, is as follows:

Florida	33.2	%

Others, representing less than 10% individually	66.8	%

The Trust invests primarily in debt securities issued by Florida and other state municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2008, 55.9% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 2.1% to 23.2% of total investments.

See notes to financial statements
18

Eaton Vance Florida Plus Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

⁽¹⁾Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust.

⁽²⁾Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts.

⁽³⁾Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2008, the aggregate value of the securities is $1,783,290 or 3.0% of the Trust's net assets applicable to common shares.

⁽⁴⁾Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at May 31, 2008.

See notes to financial statements
19

Eaton Vance Massachusetts Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 156.7%
Principal Amount (000's omitted)		Security	Value
Education — 20.5%
$	2,790	Massachusetts Development Finance Agency, (Boston University), 5.45%, 5/15/59	$	2,770,888
	600	Massachusetts Development Finance Agency, (Middlesex School), 5.00%, 9/1/33		602,706
	500	Massachusetts Development Finance Agency, (Mount Holyoke College), 5.25%, 7/1/31		511,210
	1,500	Massachusetts Development Finance Agency, (Wheeler School), 6.50%, 12/1/29		1,535,685
	1,000	Massachusetts Development Finance Agency, (Xaverian Brothers High School), 5.65%, 7/1/29		1,001,480
	1,500	Massachusetts Health and Educational Facilities Authority, (Berklee College of Music), 5.00%, 10/1/32		1,508,790
			$	7,930,759
Electric Utilities — 9.8%
$	1,000	Massachusetts Development Finance Agency, (Devens Electric System), 6.00%, 12/1/30	$	1,039,520
	1,870	Massachusetts Development Finance Agency, (Dominion Energy Brayton Point), (AMT), 5.00%, 2/1/36		1,708,058
	275	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 11.25%, 7/1/25⁽¹⁾⁽²⁾		277,060
	825	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 11.25%, 7/1/37⁽¹⁾⁽²⁾		765,616
			$	3,790,254
Escrowed / Prerefunded — 9.3%
$	400	Massachusetts Development Finance Agency, (Western New England College), Prerefunded to 12/1/12, 6.125%, 12/1/32	$	454,840
	235	Massachusetts Health and Educational Facilities Authority, (Healthcare System-Covenant Health), Prerefunded to 1/1/12, 6.00%, 7/1/31		261,202
	1,265	Massachusetts Health and Educational Facilities Authority, (South Shore Hospital), Prerefunded to 7/1/09, 5.75%, 7/1/29		1,326,593
	980	Massachusetts Health and Educational Facilities Authority, (Winchester Hospital), Prerefunded to 7/1/10, 6.75%, 7/1/30		1,063,829
	1,000	Rail Connections, Inc., (Route 128 Parking), (ACA), Prerefunded to 7/1/09, 0.00%, 7/1/20		490,620
			$	3,597,084

Principal Amount (000's omitted)		Security	Value
Health Care-Miscellaneous — 3.2%
$	510	Massachusetts Development Finance Agency, (MCHSP Human Services), 6.60%, 8/15/29	$	471,969
	700	Massachusetts Health and Educational Facilities Authority, (Learning Center for Deaf Children), 6.125%, 7/1/29		684,173
	100	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), 6.50%, 10/1/37		97,498
			$	1,253,640
Hospital — 21.1%
$	1,000	Massachusetts Development Finance Agency, (Biomedical Research Corp.), 6.25%, 8/1/20	$	1,060,790
	1,000	Massachusetts Health and Educational Facilities Authority, (Baystate Medical Center), 5.75%, 7/1/33		1,012,260
	400	Massachusetts Health and Educational Facilities Authority, (Berkshire Health System), 6.25%, 10/1/31		410,364
	330	Massachusetts Health and Educational Facilities Authority, (Beth Israel Deaconess Medical Center, Inc.), 5.125%, 7/1/38⁽³⁾		322,073
	105	Massachusetts Health and Educational Facilities Authority, (Central New England Health Systems), 6.30%, 8/1/18		105,193
	1,575	Massachusetts Health and Educational Facilities Authority, (Dana-Farber Cancer Institute), 5.00%, 12/1/37		1,570,181
	865	Massachusetts Health and Educational Facilities Authority, (Healthcare System-Covenant Health), 6.00%, 7/1/31		891,659
	2,000	Massachusetts Health and Educational Facilities Authority, (Partners Healthcare Systems), 5.00%, 7/1/32⁽⁴⁾		2,034,990
	735	Massachusetts Health and Educational Facilities Authority, (South Shore Hospital), 5.75%, 7/1/29		743,849
			$	8,151,359
Housing — 13.5%
$	2,100	Massachusetts Housing Finance Agency, 4.75%, 12/1/48	$	1,812,321
	1,000	Massachusetts Housing Finance Agency, (AMT), 4.85%, 6/1/40		871,870
	650	Massachusetts Housing Finance Agency, (AMT), 5.00%, 12/1/28		623,441
	2,000	Massachusetts Housing Finance Agency, (AMT), 5.10%, 12/1/37		1,914,800
			$	5,222,432
Industrial Development Revenue — 1.8%
$	695	Massachusetts Industrial Finance Agency, (American Hingham Water Co.), (AMT), 6.60%, 12/1/15	$	696,251
			$	696,251

See notes to financial statements
20

Eaton Vance Massachusetts Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Education — 16.1%
$	1,000	Massachusetts College Building Authority, (XLCA), 5.50%, 5/1/39	$	1,096,690
	1,000	Massachusetts Development Finance Agency, (Boston University), (XLCA), 5.375%, 5/15/39		1,030,970
	1,365	Massachusetts Development Finance Agency, (College of the Holy Cross), (AMBAC), 5.25%, 9/1/32⁽⁴⁾		1,504,394
	1,600	Massachusetts Development Finance Agency, (Franklin W. Olin College), (XLCA), 5.25%, 7/1/33		1,597,712
	1,000	Massachusetts Health and Educational Facilities Authority, (Northeastern University), (MBIA), 5.00%, 10/1/29⁽⁵⁾		1,007,870
			$	6,237,636
Insured-General Obligations — 8.1%
$	2,255	Milford, (FSA), 4.25%, 12/15/46	$	2,052,027
	900	Puerto Rico, (FSA), Variable Rate, 9.90%, 7/1/27⁽¹⁾⁽²⁾		1,069,974
			$	3,122,001
Insured-Other Revenue — 3.8%
$	1,250	Massachusetts Development Finance Agency, (WGBH Educational Foundation), (AMBAC), 5.75%, 1/1/42	$	1,478,888
			$	1,478,888
Insured-Special Tax Revenue — 7.6%
$	1,500	Martha's Vineyard Land Bank, (AMBAC), 5.00%, 5/1/32	$	1,509,030
	8,945	Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54		643,056
	1,520	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44		202,601
	3,015	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45		378,865
	1,905	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46		225,038
			$	2,958,590
Insured-Student Loan — 4.4%
$	1,985	Massachusetts Educational Financing Authority, (AMBAC), (AMT), 4.70%, 1/1/33	$	1,699,359
			$	1,699,359
Insured-Transportation — 15.3%
$	800	Massachusetts Port Authority, (Bosfuel Project), (FGIC), (AMT), 5.00%, 7/1/32	$	755,064
	2,000	Massachusetts Port Authority, (Bosfuel Project), (FGIC), (AMT), 5.00%, 7/1/38		1,861,940
	3,300	Massachusetts Turnpike Authority, Metropolitan Highway System, (MBIA), 5.00%, 1/1/37		3,301,188
			$	5,918,192

Principal Amount (000's omitted)		Security	Value
Nursing Home — 2.8%
$	500	Boston Industrial Development Authority, (Alzheimer's Center), (FHA), 6.00%, 2/1/37	$	505,865
	580	Massachusetts Health and Educational Facilities Authority, (Christopher House), 6.875%, 1/1/29		581,044
			$	1,086,909
Senior Living / Life Care — 7.6%
$	250	Massachusetts Development Finance Agency, (Berkshire Retirement), 5.15%, 7/1/31	$	224,768
	1,500	Massachusetts Development Finance Agency, (Berkshire Retirement), 5.625%, 7/1/29		1,466,430
	140	Massachusetts Development Finance Agency, (First Mortgage VOA Concord), 5.125%, 11/1/27		117,813
	425	Massachusetts Development Finance Agency, (First Mortgage VOA Concord), 5.20%, 11/1/41		337,858
	910	Massachusetts Development Finance Agency, (Linden Ponds, Inc.), 5.75%, 11/15/42		797,533
			$	2,944,402
Special Tax Revenue — 4.6%
$	1,665	Massachusetts Bay Transportation Authority, 0.00%, 7/1/31	$	498,568
	5,195	Massachusetts Bay Transportation Authority, 0.00%, 7/1/34		1,290,698
			$	1,789,266
Water and Sewer — 7.2%
$	100	Massachusetts Water Pollution Abatement Trust, 5.00%, 8/1/32	$	101,496
	965	Massachusetts Water Pollution Abatement Trust, 5.375%, 8/1/27		991,296
	2,000	Massachusetts Water Resources Authority, 4.00%, 8/1/46		1,704,420
			$	2,797,212
Total Tax-Exempt Investments — 156.7% (identified cost $61,426,566)			$	60,674,234

See notes to financial statements
21

Eaton Vance Massachusetts Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

Short-Term Investments — 2.8%
Principal Amount (000's omitted)		Description	Value
$	1,060	Massachusetts Development Finance Agency, (Wentworth Institute), (AMBAC), (SPA: State Street Bank and Trust Co.), Variable Rate, 6.25%, 10/1/30⁽⁶⁾	$	1,060,000
Total Short-Term Investments (identified cost $1,060,000)			$	1,060,000
Total Investments — 159.5% (identified cost $62,486,566)			$	61,734,234
Other Assets, Less Liabilities — (3.9)%			$	(1,515,973	)
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (55.6)%			$	(21,507,623	)
Net Assets Applicable to Common Shares — 100.0%			$	38,710,638

ACA - ACA Financial Guaranty Corporation

AMBAC - AMBAC Financial Group, Inc.

AMT - Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.

DRIVERS - Derivative Inverse Tax-Exempt Receipts

FGIC - Financial Guaranty Insurance Company

FHA - Federal Housing Administration

FSA - Financial Security Assurance, Inc.

MBIA - Municipal Bond Insurance Association

SPA - Standby Bond Purchase Agreement

XLCA - XL Capital Assurance, Inc.

The Trust invests primarily in debt securities issued by Massachusetts municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2008, 36.4% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 4.2% to 12.8% of total investments.

⁽¹⁾Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2008, the aggregate value of the securities is $2,112,650 or 5.5% of the Trust's net assets applicable to common shares.

⁽²⁾Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at May 31, 2008.

⁽³⁾When-issued security.

⁽⁴⁾Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust.

⁽⁵⁾Security (or a portion thereof) has been segregated to cover payable for when-issued securities.

⁽⁶⁾ Variable rate demand obligation. The stated interest rate represents the rate in effect at May 31, 2008.

See notes to financial statements
22

Eaton Vance Michigan Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 156.8%
Principal Amount (000's omitted)		Security	Value
Education — 6.2%
$	1,250	Michigan Higher Education Facilities Authority, (Creative Studies), 5.90%, 12/1/27	$	1,275,375
	540	Michigan Higher Education Facilities Authority, (Hillsdale College), 5.00%, 3/1/35		530,572
			$	1,805,947
Electric Utilities — 9.1%
$	1,250	Michigan Strategic Fund, (Detroit Edison Pollution Control), 5.45%, 9/1/29	$	1,262,487
	375	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 11.25%, 7/1/25⁽¹⁾⁽²⁾		377,809
	1,125	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 11.25%, 7/1/37⁽¹⁾⁽²⁾		1,044,022
			$	2,684,318
Escrowed / Prerefunded — 11.1%
$	500	Kent Hospital Finance Authority, (Spectrum Health), Prerefunded to 7/15/11, 5.50%, 1/15/31	$	543,685
	750	Michigan Hospital Finance Authority, (Ascension Health Care), Prerefunded to 11/15/09, 6.125%, 11/15/26		798,495
	750	Michigan Hospital Finance Authority, (Sparrow Obligation Group), Prerefunded to 11/15/11, 5.625%, 11/15/36		822,532
	1,000	Puerto Rico Electric Power Authority, Prerefunded to 7/1/12, 5.25%, 7/1/31		1,096,170
			$	3,260,882
General Obligations — 10.1%
$	500	East Grand Rapids Public School District, 5.00%, 5/1/25	$	517,115
	1,000	Manistee Area Public Schools, 5.00%, 5/1/24		1,032,550
	345	Puerto Rico Public Buildings Authority, (Commonwealth Guaranteed), 5.25%, 7/1/29		344,110
	1,000	White Cloud Public Schools, Prerefunded to 5/1/11, 5.125%, 5/1/31		1,068,630
			$	2,962,405
Health Care-Miscellaneous — 0.3%
$	100	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), 6.50%, 10/1/37	$	97,498
			$	97,498
Hospital — 29.0%
$	500	Allegan Hospital Finance Authority, (Allegan General Hospital), 7.00%, 11/15/21	$	516,380
	185	Gaylord Hospital Finance Authority, (Otsego Memorial Hospital Association), 6.20%, 1/1/25		178,730

Principal Amount (000's omitted)		Security	Value
Hospital (continued)
$	125	Gaylord Hospital Finance Authority, (Otsego Memorial Hospital Association), 6.50%, 1/1/37	$	121,904
	275	Kent Hospital Finance Authority, (Spectrum Health), 5.50%, 1/15/47		294,605
	560	Macomb County Hospital Finance Authority, (Mount Clemens General Hospital), 5.875%, 11/15/34		528,702
	500	Mecosta County, (Michigan General Hospital), 6.00%, 5/15/18		500,985
	1,000	Michigan Hospital Finance Authority, (Central Michigan Community Hospital), 6.25%, 10/1/27		1,001,920
	750	Michigan Hospital Finance Authority, (Henry Ford Health System), 5.00%, 11/15/38		711,277
	1,000	Michigan Hospital Finance Authority, (Henry Ford Health System), 5.25%, 11/15/46		976,250
	1,080	Michigan Hospital Finance Authority, (McLaren Healthcare), 5.00%, 8/1/35		1,023,138
	750	Michigan Hospital Finance Authority, (Memorial Healthcare Center), 5.875%, 11/15/21		764,543
	1,000	Michigan Hospital Finance Authority, (Trinity Health), 6.00%, 12/1/27		1,059,430
	800	Saginaw Hospital Finance Authority, (Covenant Medical Center), 6.50%, 7/1/30		847,472
			$	8,525,336
Housing — 3.0%
$	1,000	Michigan State Housing Development Authority, (Williams Pavilion), (AMT), 4.90%, 4/20/48	$	890,480
			$	890,480
Industrial Development Revenue — 7.0%
$	1,000	Detroit Local Development Finance Authority, (Chrysler Corp.), 5.375%, 5/1/21	$	855,240
	800	Dickinson County Electronic Development Corp., (International Paper Co.), 5.75%, 6/1/16		809,240
	625	Puerto Rico Port Authority, (American Airlines), (AMT), 6.25%, 6/1/26		402,556
			$	2,067,036
Insured-Electric Utilities — 6.8%
$	1,000	Michigan Strategic Fund, (Detroit Edison Co.), (MBIA), (AMT), 5.55%, 9/1/29	$	1,007,880
	500	Michigan Strategic Fund, (Detroit Edison Co.), (XLCA), 5.25%, 12/15/32		478,075
	500	Puerto Rico Electric Power Authority, (FGIC), 5.25%, 7/1/34		502,100
			$	1,988,055

See notes to financial statements
23

Eaton Vance Michigan Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Escrowed / Prerefunded — 14.5%
$	1,000	Central Montcalm Public Schools, (MBIA), Prerefunded to 5/1/09, 6.00%, 5/1/29	$	1,036,940
	1,000	Detroit Sewer Disposal, (FGIC), Prerefunded to 7/1/11, 5.125%, 7/1/31		1,071,780
	2,000	Novi Building Authority, (FSA), Prerefunded to 10/1/10, 5.50%, 10/1/25		2,159,600
			$	4,268,320
Insured-General Obligations — 8.6%
$	650	Detroit City School District, (FGIC), 4.75%, 5/1/28	$	652,262
	750	Detroit City School District, (FSA), 5.25%, 5/1/32		828,345
	200	Eaton Rapids Public Schools, (MBIA), 4.75%, 5/1/25		200,652
	700	Puerto Rico, (FSA), Variable Rate, 9.90%, 7/1/27⁽¹⁾⁽²⁾		832,202
			$	2,513,461
Insured-Hospital — 6.9%
$	1,000	Royal Oak Hospital Finance Authority, (William Beaumont Hospital), (MBIA), 5.25%, 11/15/35	$	1,010,700
	1,000	Saginaw Hospital Finance Authority, (Covenant Medical Center), (MBIA), 5.50%, 7/1/24		1,028,240
			$	2,038,940
Insured-Lease Revenue / Certificates of Participation — 5.2%
$	4,300	Michigan State Building Authority, (FGIC), 0.00%, 10/15/30	$	1,196,690
	1,000	Michigan State Building Authority, (FGIC), (FSA), 0.00%, 10/15/29		316,840
			$	1,513,530
Insured-Special Tax Revenue — 11.2%
$	5,160	Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54	$	370,952
	1,225	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44		163,280
	2,430	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45		305,354
	1,470	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46		173,651
	2,250	Wayne Charter County, (Airport Hotel-Detroit Metropolitan Airport), (MBIA), 5.00%, 12/1/30		2,270,745
			$	3,283,982
Insured-Student Loan — 6.5%
$	1,000	Michigan Higher Education Student Loan Authority, (AMBAC), (AMT), 5.00%, 3/1/31	$	941,640
	1,000	Michigan Higher Education Student Loan Authority, (AMBAC), (AMT), 5.50%, 6/1/25⁽³⁾		981,600
			$	1,923,240

Principal Amount (000's omitted)		Security	Value
Insured-Transportation — 6.7%
$	1,000	Wayne Charter County Airport, (AGC), (AMT), 5.375%, 12/1/32	$	1,001,190
	1,000	Wayne Charter County Airport, (MBIA), (AMT), 5.00%, 12/1/28		968,840
			$	1,970,030
Insured-Water and Sewer — 5.5%
$	1,650	Detroit Water Supply System, (FGIC), 5.00%, 7/1/30	$	1,623,914
			$	1,623,914
Lease Revenue / Certificates of Participation — 0.9%
$	250	Puerto Rico, (Guaynabo Municipal Government Center Lease), 5.625%, 7/1/22	$	250,083
			$	250,083
Other Revenue — 3.1%
$	12,500	Michigan Tobacco Settlement Finance Authority, 0.00%, 6/1/52	$	457,500
	500	Michigan Tobacco Settlement Finance Authority, 6.00%, 6/1/48		445,850
			$	903,350
Transportation — 5.1%
$	1,500	Kent County Airport Facility, 5.00%, 1/1/25⁽⁴⁾	$	1,510,388
			$	1,510,388
Total Tax-Exempt Investments — 156.8% (identified cost $46,129,252)			$	46,081,195
Other Assets, Less Liabilities — 2.8%			$	819,382
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (59.6)%			$	(17,503,568	)
Net Assets Applicable to Common Shares — 100.0%			$	29,397,009

AGC - Assured Guaranty Corp.

AMBAC - AMBAC Financial Group, Inc.

AMT - Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.

DRIVERS - Derivative Inverse Tax-Exempt Receipts

FGIC - Financial Guaranty Insurance Company

See notes to financial statements
24

Eaton Vance Michigan Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

FSA - Financial Security Assurance, Inc.

MBIA - Municipal Bond Insurance Association

XLCA - XL Capital Assurance, Inc.

The Trust invests primarily in debt securities issued by Michigan municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2008, 45.8% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 1.0% to 17.7% of total investments.

⁽¹⁾Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2008, the aggregate value of the securities is $2,254,033 or 7.7% of the Trust's net assets applicable to common shares.

⁽²⁾Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at May 31, 2008.

⁽³⁾ Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts.

⁽⁴⁾ Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust.

See notes to financial statements
25

Eaton Vance New Jersey Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 172.3%
Principal Amount (000's omitted)		Security	Value
Education — 1.0%
$	250	New Jersey Educational Facilities Authority, (Georgian Court University), 5.00%, 7/1/27	$	245,465
	250	New Jersey Educational Facilities Authority, (Georgian Court University), 5.00%, 7/1/33		239,647
	220	New Jersey Educational Facilities Authority, (Georgian Court University), 5.25%, 7/1/37		214,546
			$	699,658
Electric Utilities — 2.2%
$	1,500	Salem County Pollution Control Financing, (Public Service Enterprise Group, Inc.), (AMT), 5.75%, 4/1/31	$	1,438,290
			$	1,438,290
Escrowed / Prerefunded — 6.1%
$	950	Tobacco Settlement Financing Corp., Prerefunded to 6/1/13, 6.75%, 6/1/39	$	1,103,482
	2,500	Tobacco Settlement Financing Corp., Prerefunded to 6/1/13, 6.75%, 6/1/39⁽¹⁾		2,903,900
			$	4,007,382
General Obligations — 2.4%
$	1,595	Puerto Rico Public Buildings Authority, (Commonwealth Guaranteed), 5.25%, 7/1/29	$	1,590,885
			$	1,590,885
Health Care-Miscellaneous — 0.4%
$	300	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), 6.50%, 10/1/37	$	292,494
			$	292,494
Hospital — 30.9%
$	100	Camden County Improvement Authority, (Cooper Health System), 5.00%, 2/15/25	$	94,887
	90	Camden County Improvement Authority, (Cooper Health System), 5.00%, 2/15/35		79,608
	100	Camden County Improvement Authority, (Cooper Health System), 5.25%, 2/15/27		96,302
	2,750	Camden County Improvement Authority, (Cooper Health System), 5.75%, 2/15/34		2,702,618
	2,060	New Jersey Health Care Facilities Financing Authority, (AHS Hospital Corp.), 5.00%, 7/1/27		2,062,328
	575	New Jersey Health Care Facilities Financing Authority, (Atlantic City Medical Center), 5.75%, 7/1/25		592,014

Principal Amount (000's omitted)		Security	Value
Hospital (continued)
$	4,135	New Jersey Health Care Facilities Financing Authority, (Atlanticare Regional Medical Center), 5.00%, 7/1/37	$	3,999,455
	2,140	New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.25%, 7/1/27		2,111,987
	1,765	New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.375%, 7/1/33		1,693,376
	2,000	New Jersey Health Care Facilities Financing Authority, (Hackensack University Medical Center), 6.00%, 1/1/34		2,035,960
	2,000	New Jersey Health Care Facilities Financing Authority, (Robert Wood Johnson University Hospital), 5.75%, 7/1/31		2,043,600
	2,930	New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), 5.00%, 7/1/46		2,827,948
			$	20,340,083
Housing — 7.4%
$	715	New Jersey Housing and Mortgage Finance Agency, (Single Family Housing), (AMT), 4.70%, 10/1/37	$	641,105
	4,490	New Jersey Housing and Mortgage Finance Agency, (Single Family Housing), (AMT), 5.00%, 10/1/37		4,245,654
			$	4,886,759
Industrial Development Revenue — 15.3%
$	1,000	Gloucester County Improvements Authority, (Waste Management, Inc.), (AMT), 7.00%, 12/1/29	$	1,042,620
	3,000	Middlesex County Pollution Control Authority, (Amerada Hess), 6.05%, 9/15/34		3,004,320
	3,220	New Jersey Economic Development Authority, (Anheuser-Busch Cos., Inc.), (AMT), 4.95%, 3/1/47		2,849,024
	750	New Jersey Economic Development Authority, (Continental Airlines), (AMT), 6.25%, 9/15/29		607,920
	750	New Jersey Economic Development Authority, (Continental Airlines), (AMT), 9.00%, 6/1/33		781,890
	2,080	Virgin Islands Public Financing Authority, (HOVENSA LLC), (AMT), 4.70%, 7/1/22		1,798,597
			$	10,084,371
Insured-Education — 5.3%
$	3,365	New Jersey Educational Facilities Authority, (College of New Jersey), (FSA), 5.00%, 7/1/35⁽¹⁾	$	3,483,535
			$	3,483,535
Insured-Electric Utilities — 3.8%
$	1,250	Puerto Rico Electric Power Authority, (FGIC), 5.25%, 7/1/35	$	1,255,350
	1,250	Vineland, (Electric Utility), (MBIA), (AMT), 5.25%, 5/15/26		1,254,038
			$	2,509,388

See notes to financial statements
26

Eaton Vance New Jersey Municipal Income Trust as of May 31, 2008

PORTFOLIO OF INVESTMENTS (Unaudited) CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Escrowed / Prerefunded — 7.2%
$	4,500	New Jersey Turnpike Authority, (MBIA), Prerefunded to 1/1/10, 5.50%, 1/1/30⁽¹⁾	$	4,723,290
			$	4,723,290
Insured-Gas Utilities — 7.3%
$	5,000	New Jersey Economic Development Authority, (New Jersey Natural Gas Co.), (FGIC), (AMT), 4.90%, 10/1/40	$	4,792,700
			$	4,792,700
Insured-General Obligations — 4.7%
$	635	Monroe Township Board of Education, Middlesex County, (AGC), 4.75%, 3/1/36	$	639,890
	225	Nutley School District, (MBIA), 4.50%, 7/15/29		225,659
	550	Nutley School District, (MBIA), 4.75%, 7/15/30		560,582
	725	Nutley School District, (MBIA), 4.75%, 7/15/31		736,774
	510	Nutley School District, (MBIA), 4.75%, 7/15/32		517,864
	400	South Orange and Maplewood School District, (AGC), 4.625%, 1/15/26