OMB APPROVAL
	OMB Number: 3235-0578
	Expires: April 30, 2013
	Estimated average burden hours per response: 5.6

 

 

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 811-07398

Invesco Van Kampen Pennsylvania Value Municipal Income Trust

(Exact name of registrant as specified in charter)

1555 Peachtree Street, N.E., Atlanta, Georgia 30309
(Address of principal executive offices) (Zip code)

Colin Meadows 1555 Peachtree Street, N.E., Atlanta, Georgia 30309
(Name and address of agent for service)

Registrant’s telephone number, including area code: (713) 626-1919

Date of fiscal year end: 10/31

Date of reporting period: 07/31/10

 

 

Item 1. Schedule of Investments.

Invesco Van Kampen Pennsylvania Value
Municipal Income Trust
Quarterly Schedule of Portfolio Holdings
July 31, 2010

invesco.com/us		VK-CE-PAVMI-QTR-1 07/10		Invesco Advisers, Inc.

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited)

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Municipal Bonds 162.7%
				Pennsylvania 153.1%
$	3,000			Allegheny Cnty, PA Arpt Auth Rev Pittsburgh Intl Arpt Rfdg (NATL Insd) (AMT)			5.750	%			01/01/18			$	3,016,440
	2,000			Allegheny Cnty, PA Higher Ed Bldg Auth Univ Rev Carnegie Mellon Univ (a)			5.125				03/01/32				2,008,300
	2,750			Allegheny Cnty, PA Higher Ed Bldg Auth Univ Rev Carnegie Mellon Univ (a)			5.250				03/01/32				2,765,675
	1,165			Allegheny Cnty, PA Higher Ed Bldg Auth Univ Rev Duquesne Univ			5.000				03/01/21				1,261,940
	1,000			Allegheny Cnty, PA Higher Ed Bldg Auth Univ Rev Robert Morris Univ, Ser A			6.000				10/15/38				1,014,770
	1,360			Allegheny Cnty, PA Hosp Dev Auth Rev Hlth Sys, Ser A (NATL Insd) (Prerefunded @ 11/15/10)			6.500				11/15/30				1,411,626
	2,250			Allegheny Cnty, PA Hosp Dev Auth Rev Hlth Sys West PA, Ser A			5.375				11/15/40				1,682,887
	735			Allegheny Cnty, PA Hosp Dev Auth Rev OH Vly Gen Hosp Proj, Ser A			5.000				04/01/25				669,592
	3,145			Allegheny Cnty, PA Hosp Dev Auth Rev OH Vly Gen Hosp Proj, Ser A			5.125				04/01/35				2,695,642
	2,750			Allegheny Cnty, PA Hosp Dev Auth Rev Univ Pittsburgh Med			5.625				08/15/39				2,837,395
	1,215			Allegheny Cnty, PA Indl Dev Auth Charter Sch Rev Propel Charter Mckeesport, Ser B (b)			6.375				08/15/35				1,213,445
	2,000			Allegheny Cnty, PA Indl Dev Auth Lease Rev Cargo Fac Afco Cargo PIT LLC (AMT)			6.625				09/01/24				1,770,700

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	1,130			Allegheny Cnty, PA Indl Dev Auth Lease Rev Residential Res Inc Proj			5.125	%			09/01/31			$	1,048,188
	3,000			Allegheny Cnty, PA Port Auth Spl Rev Trans (NATL Insd)			5.000				03/01/29				3,032,220
	1,060			Allegheny Cnty, PA Redev Auth Tax Increment Rev Robinson Mall Proj, Ser A			7.000				11/01/17				1,064,526
	395			Allegheny Cnty, PA Residential Fin Auth Mtg Rev Single Family, Ser II-1 (GNMA Collateralized) (AMT)			5.800				05/01/21				396,363
	615			Allegheny Cnty, PA Residential Fin Auth Mtg Rev Single Family, Ser II-2 (GNMA Collateralized) (AMT)			5.800				11/01/20				617,263
	2,855			Allegheny Cnty, PA Residential Fin Auth Mtg Rev Single Family, Ser KK-2 (GNMA Collateralized) (AMT)			5.750				05/01/33				2,884,578
	460			Allegheny Cnty, PA San Auth Swr Rev (NATL Insd)			5.500				12/01/30				465,916
	1,000			Allegheny Cnty, PA San Auth Swr Rev (NATL Insd)			5.750				12/01/13				1,019,080
	2,220			Allegheny Cnty, PA San Auth Swr Rev (NATL Insd) (Prerefunded @ 12/01/10)			5.750				12/01/17				2,277,875
	1,830			Allegheny Cnty, PA San Auth Swr Rev (NATL Insd) (Prerefunded @ 12/01/10)			5.750				12/01/18				1,877,708
	1,000			Allegheny Cnty, PA, Ser C 61 (AGL Insd)			5.000				12/01/33				1,050,690
	4,935			Beaver Cnty, PA Nts (AGM Insd)			5.550				11/15/31				5,345,543

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	1,475			Berks Cnty, PA Indl Dev Auth First Mtg Rev Rfdg One Douglassville Proj A (AMT)			6.125	%			11/01/34			$	1,231,168
	1,800			Berks Cnty, PA Muni Auth Albright College Proj			5.500				10/01/17				1,775,772
	1,695			Berks Cnty, PA Muni Auth Albright College Proj Rfdg, Ser A			5.500				10/01/16				1,697,983
	3,000			Bethlehem, PA Area Sch Dist (AGM Insd)			5.250				01/15/25				3,263,280
	1,000			Bradford Cnty, PA Indl Dev Auth Solid Waste Disp Rev Intl Paper Rfdg, Ser B (AMT)			5.200				12/01/19				1,012,000
	2,000			Bucks Cnty, PA Indl Dev Auth Retirement Cmnty Fac Rev Ann’s Choice Inc, Ser A			6.250				01/01/35				1,906,220
	1,200			Bucks Cnty, PA Indl Dev Auth Rev Lutheran Cmnty Telford Ctr			5.750				01/01/37				995,544
	2,185			Centre Cnty, PA Hosp Auth Rev Hosp Mt Nittany Med Ctr Proj (AGL Insd)			6.125				11/15/39				2,283,915
	1,000			Chartiers Vly, PA Indl & Coml Dev Auth First Mtg Rev Asbury Hlth Ctr Rfdg			6.375				12/01/19				1,009,240
	1,000			Chartiers Vly, PA Indl & Coml Dev Auth First Mtg Rev Asbury Hlth Ctr Rfdg			6.375				12/01/24				1,005,410
	2,650			Coatesville, PA Sch Dist (AGM Insd)			5.000				08/15/30				2,826,675
	1,775			Commonwealth Fin Auth PA Rev Ser B			5.000				06/01/23				1,944,850

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	1,000			Connellsville, PA Area Sch Dist Nts, Ser B (AGM Insd)			5.000	%			11/15/37			$	1,016,600
	1,200			Cumberland Cnty, PA Muni Auth College Rev Aicup Fin Pg Dickinson College, Ser HH1			5.000				11/01/39				1,192,608
	2,000			Cumberland Cnty, PA Muni Auth Messiah Village Proj, Ser A			6.000				07/01/35				1,877,280
	2,000			Cumberland Cnty, PA Muni Auth Rev Diakon Lutheran Ministries Proj			5.000				01/01/27				1,853,900
	2,000			Daniel Boone, PA Area Sch Dist			5.000				08/15/32				2,097,060
	5,475			Dauphin Cnty, PA Gen Auth Hlth Sys Rev Pinnacle Hlth Sys Proj, Ser A			5.750				06/01/20				6,087,160
	3,970			Dauphin Cnty, PA Gen Auth Hosp Rev Hapsco West PA Hosp Proj B Rfdg (NATL Insd) (c)			6.250				07/01/16				4,575,822
	1,000			Deer Lakes Sch Dist PA (AGL Insd)			5.375				04/01/34				1,070,330
	360			Delaware Cnty, PA Auth College Cabrini College (Radian Insd)			5.750				07/01/23				360,263
	1,500			Delaware Cnty, PA Auth College Neumann College			6.250				10/01/38				1,596,435
	2,295			Delaware Cnty, PA Auth College Neumann College Rfdg			5.875				10/01/21				2,328,300
	2,000			Delaware Cnty, PA Auth College Neumann College Rfdg			6.000				10/01/31				2,016,180
	3,000			Delaware Cnty, PA Auth College Rev Haverford College			5.000				11/15/40				3,187,140

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	2,750			Delaware Cnty, PA Indl Dev Auth Rev Wtr Fac Aqua PA Inc Proj, Ser A (NATL Insd) (AMT)			5.000	%			11/01/37			$	2,761,770
	6,000			Delaware Cnty, PA Indl Dev Auth Rev Wtr Fac Aqua PA Inc Proj, Ser B (NATL Insd) (AMT)			5.000				11/01/36				6,028,440
	3,000			Delaware Cnty, PA Indl Dev Auth Rev Wtr Fac Aqua PA Inc Proj, Ser C (NATL Insd) (AMT)			5.000				02/01/35				3,016,200
	1,750			Delaware Cnty, PA Indl Dev Auth Rev Wtr Fac (NATL Insd) (AMT)			6.000				06/01/29				1,751,732
	2,500			Delaware Cnty, PA Indl Dev Auth Wtr Fac PA Subn Wtr (AMBAC Insd) (AMT)			5.350				10/01/31				2,528,600
	2,000			Delaware Riv Port Auth PA & NJ Rev, Ser D			5.000				01/01/40				2,033,740
	8,000			Delaware Vly, PA Regl Fin Auth Loc Govt Rev (b)			5.750				07/01/17				8,941,120
	5,000			Delaware Vly, PA Regl Fin Auth Loc Govt Rev (b)			5.750				07/01/32				5,502,750
	2,000			Exeter Twp, PA Sch Dist (NATL Insd)			5.000				05/15/25				2,129,060
	1,000			Fayette Cnty, PA (AMBAC Insd) (Prerefunded @ 11/15/10)			5.625				11/15/28				1,015,820
	2,000			Fulton Cnty, PA Indl Dev Auth Hosp Rev Fulton Cnty Med Ctr Proj			5.900				07/01/40				1,773,280
	1,000			Harrisburg, PA Auth Wtr Rev Rfdg			5.250				07/15/31				999,970

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	6,575			Harrisburg, PA Auth Wtr Rev Rfdg (AGM Insd)			5.000	%			07/15/21			$	6,707,881
	2,740			Lancaster Cnty, PA Hosp Auth Rev Brethren Vlg Proj, Ser A			6.500				07/01/40				2,697,201
	1,000			Lebanon Cnty, PA Hlth Fac Pleasant View Auth Hlth Ctr Rev Retirement, Ser A			5.125				12/15/20				910,700
	1,510			Lehigh Cnty, PA Gen Purp Auth Cedar Crest College Rfdg (Radian Insd)			5.000				04/01/26				1,389,547
	1,000			Lehigh Cnty, PA Gen Purp Hosp Rev Lehigh Vly Hlth, Ser B (AGM Insd)			5.000				07/01/35				1,012,160
	1,240			Lehigh Northampton, PA Arpt Lehigh Vly Arpt Sys Rfdg, Ser A (NATL Insd) (AMT)			5.000				01/01/20				1,249,226
	1,360			Lehigh Northampton, PA Arpt Lehigh Vly Arpt Sys Rfdg, Ser A (NATL Insd) (AMT)			5.000				01/01/22				1,349,446
	675			Lehigh Northampton, PA Arpt Lehigh Vly Arpt Sys Rfdg, Ser A (NATL Insd) (AMT)			5.000				01/01/23				659,117
	2,500			Luzerne Cnty, PA, Ser B (AGM Insd)			5.000				12/15/27				2,613,200
	5,650			Lycoming Cnty, PA Auth College Rev PA College of Technology (AMBAC Insd)			5.350				07/01/26				5,655,989
	5,000			Lycoming Cnty, PA Auth College Rev PA College of Technology (AMBAC Insd)			5.375				07/01/30				5,000,850
	2,750			Lycoming Cnty, PA Auth Hlth Sys Rev Susquehanna Hlth Sys Proj, Ser A			5.750				07/01/39				2,811,435

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	5,000			Mercer Cnty, PA Indl Dev Auth Wtr Fac Sub Corp (NATL Insd) (AMT)			6.000	%			07/01/30			$	5,002,400
	1,000			Mercer Cnty, PA (NATL Insd)			5.500				10/01/15				1,055,820
	1,000			Mifflin Cnty, PA Hosp Auth Rev (Radian Insd) (Prerefunded @ 1/01/11)			6.200				07/01/25				1,034,890
	2,500			Mifflin Cnty, PA Hosp Auth Rev (Radian Insd) (Prerefunded @ 1/01/11)			6.200				07/01/30				2,587,225
	3,000			Monroe Cnty, PA Hosp Auth Rev Hosp Pocono Med Ctr			5.250				01/01/43				2,976,750
	3,000			Monroe Cnty, PA Hosp Auth Rev Hosp Pocono Med Ctr (Prerefunded @ 1/01/14)			6.000				01/01/43				3,516,810
	4,500			Montgomery Cnty, PA Higher Ed & Hlth Auth Hosp Rev Abington Mem Hosp, Ser A			5.125				06/01/32				4,506,165
	3,800			Montgomery Cnty, PA Higher Ed & Hlth Auth Rev Hlthcare Holy Redeemer Hlth, Ser A (AMBAC Insd)			5.250				10/01/17				3,800,912
	5,000			Montgomery Cnty, PA Indl Dev Auth Retirement Cmnty Rev, Ser A			4.500				11/15/36				4,070,400
	1,500			Montgomery Cnty, PA Indl Dev Auth Rev Mtg Whitemarsh Cmnty Proj			7.000				02/01/36				1,331,955
	3,000			Montgomery Cnty, PA Indl Dev Auth Rev Mtg Whitemarsh Continuing Care			6.250				02/01/35				2,442,480
	1,500			Mount Lebanon, PA Hosp Auth Saint Clair Mem Hosp, Ser A			5.625				07/01/32				1,509,255

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	1,000			Northampton Cnty, PA Gen Purp Auth Hosp Rev Saint Lukes Hosp Proj, Ser C (d)			4.500	%			08/15/32			$	1,025,940
	2,000			Northampton Cnty, PA Gen Purp Auth Hosp Rev Saint Lukes Hosp Proj, Ser A			5.500				08/15/35				2,023,260
	4,000			Northampton Cnty, PA Gen Purp Auth Rev Higher Ed Lehigh Univ			5.500				11/15/33				4,391,040
	1,000			Northeastern York, PA Sch Dist, Ser B (NATL Insd)			5.000				04/01/30				1,044,580
	2,000			Northeastern York, PA Sch Dist, Ser B (NATL Insd)			5.000				04/01/31				2,082,080
	16,695			Owen J. Roberts Sch Dist PA Nts (AGM Insd) (a)			5.000				05/15/35				17,348,108
	1,500			Pennsylvania Econ Dev Fin Auth Exempt Fac Rev Reliant Energy, Ser B (AMT)			6.750				12/01/36				1,550,040
	4,220			Pennsylvania Econ Dev Fin Auth Exempt Fac Rev Var Allegheny Energy Supply Co			7.000				07/15/39				4,745,474
	800			Pennsylvania Econ Dev Fin Auth Res Recovery Rev Colver Proj Rfdg, Ser G (AMT)			5.125				12/01/15				775,632
	2,000			Pennsylvania Econ Dev Fin Auth Sew Sludge Disp Rev Philadelphia Bio Solids Fac			6.250				01/01/32				2,116,560
	3,465			Pennsylvania Econ Dev Fin Auth Solid Waste Disp Rev Waste Mgmt Inc Proj, Ser A (AMT)			5.100				10/01/27				3,467,841

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	1,000			Pennsylvania Econ Auth Sew Sludge Disp Rev Dev Fin Philadelphia Bio Solids Fac			5.500	%			01/01/18			$	1,072,220
	360			Pennsylvania Hsg Fin Agy, Ser 100A (AMT)			5.100				10/01/22				369,590
	175			Pennsylvania Hsg Fin Agy Single Family Mtg, Ser 66-A (AMT)			5.650				04/01/29				179,135
	12,135			Pennsylvania Intergvtl Coop Auth Spl Tax Rev Philadelphia Fdg Pgm Rfdg (a)			5.000				06/15/21				13,877,222
	3,000			Pennsylvania St First			5.000				10/01/23				3,372,180
	1,000			Pennsylvania St Higher Ed Fac Auth Rev Clarion Univ Fndtn Inc, Ser A (Syncora Gtd)			5.000				07/01/28				886,040
	1,500			Pennsylvania St Higher Ed Fac Auth Rev Clarion Univ Fndtn Inc, Ser A (Syncora Gtd)			5.000				07/01/33				1,261,890
	1,500			Pennsylvania St Higher Ed Fac Auth Rev Clarion Univ Fndtn Inc, Ser A (Syncora Gtd)			5.250				07/01/18				1,522,815
	3,000			Pennsylvania St Higher Ed Fac Auth Rev Drexel Univ			5.500				05/01/16				3,218,100
	4,000			Pennsylvania St Higher Ed Fac Auth Rev Drexel Univ			5.500				05/01/17				4,290,800
	1,000			Pennsylvania St Higher Ed Fac Auth Rev Edinboro Univ Fndtn			6.000				07/01/43				1,014,120
	1,000			Pennsylvania St Higher Ed Fac Auth Rev Geneva College Proj (Prerefunded @ 4/01/12)			6.125				04/01/22				1,094,710
	4,000			Pennsylvania St Higher Ed Fac Auth Rev La Salle Univ			5.500				05/01/34				4,013,800

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	3,000			Pennsylvania St Higher Ed Fac Auth Rev Messiah College, Ser AA-3 (Radian Insd)			5.500	%			11/01/22			$	3,064,110
	1,540			Pennsylvania St Higher Ed Fac Auth Rev Thomas Jefferson Univ			5.375				01/01/25				1,588,679
	15,925			Pennsylvania St Higher Ed Fac Auth Rev Trustees Univ PA, Ser C (a)			5.000				07/15/38				16,450,047
	2,320			Pennsylvania St Higher Ed Fac Auth Rev Univ Sciences Philadelphia, Ser A (Syncora Gtd)			5.000				11/01/36				2,365,495
	3,600			Pennsylvania St Higher Ed Fac Auth Rev UPMC Hlth Sys, Ser A (AGM Insd)			5.000				08/01/29				3,619,188
	5,050			Pennsylvania St Higher Ed Fac Auth Rev UPMC Hlth Sys, Ser A (Prerefunded @ 1/15/11)			6.000				01/15/31				5,233,820
	1,750			Pennsylvania St Tpk Commn Tpk Rev Cap Apprec Motor License Spl, Ser A-2 (e)			0.000/5.500				12/01/34				1,334,480
	1,000			Pennsylvania St Tpk Commn Tpk Rev Spl Motor License Fd, Ser A1			5.000				12/01/38				1,042,750
	1,200			Pennsylvania St Tpk Commn Tpk Rev, Ser A (AMBAC Insd)			5.250				12/01/21				1,327,896
	12,995			Pennsylvania St Tpk Commn Tpk Rev, Ser A1 (AGL Insd) (a)			5.000				06/01/38				13,363,148
	720			Pennsylvania St Tpk Commn Tpk Rev Cap Apprec Sub, Ser E (e)			0.000/6.375				12/01/38				519,530
	5,840			Pennsylvania St Tpk Commn Tpk Rev Conv Cap Apprec Sub, Ser C (AGM Insd) (e)			0.000/6.250				06/01/33				4,545,330

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	2,000			Pennsylvania St Univ (a)			5.000	%			09/01/29			$	2,151,340
	4,000			Pennsylvania St Univ (a)			5.000				09/01/35				4,223,760
	1,250			Philadelphia, PA Arpt Rev, Ser A (NATL Insd) (AMT)			5.000				06/15/23				1,270,513
	2,000			Philadelphia, PA Auth for Indl Dev Rev Coml Dev (AMT)			7.750				12/01/17				2,002,460
	2,500			Philadelphia, PA Auth For Indl Dev Rev First Philadelphia Charter, Ser A			5.850				08/15/37				2,336,325
	1,660			Philadelphia, PA Auth For Indl Dev Rev Mast Charter Sch			6.000				08/01/35				1,684,933
	2,610			Philadelphia, PA Auth For Indl Dev Rev Please Touch Museum Proj			5.250				09/01/21				2,571,111
	3,230			Philadelphia, PA Auth For Indl Dev Rev Please Touch Museum Proj			5.250				09/01/26				3,016,820
	1,000			Philadelphia, PA Auth For Indl Dev Rev Please Touch Museum Proj			5.250				09/01/31				904,240
	6,700			Philadelphia, PA Auth For Indl Dev Rev Please Touch Museum Proj			5.250				09/01/36				5,881,796
	2,815			Philadelphia, PA Auth For Indl Dev Rev, Ser A			5.500				09/15/37				2,503,774
	4,005			Philadelphia, PA Auth Indl Dev Amern College of Physicians			5.500				06/15/27				4,008,645
	2,250			Philadelphia, PA Auth Indl Dev PA Arpt Sys Proj, Ser A (NATL Insd) (AMT)			5.125				07/01/19				2,291,873

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	2,500			Philadelphia, PA Auth Indl Dev PA Arpt Sys Proj, Ser A (NATL Insd) (AMT)			5.250	%			07/01/28			$	2,499,875
	6,000			Philadelphia, PA Auth Indl, Ser B (AGM Insd) (Prerefunded @ 10/01/11)			5.500				10/01/17				6,423,360
	3,280			Philadelphia, PA Gas Wks Rev 12th, Ser B (NATL Insd) (c)			7.000				05/15/20				4,078,942
	2,650			Philadelphia, PA Hosp & Higher Ed Fac Auth Rev Chester/Philadelphia Jhs, Ser B			5.000				05/15/40				2,659,991
	1,645			Philadelphia, PA Proj Auth Rev, Ser A (AMBAC Insd)			5.250				02/15/29				1,645,592
	1,905			Philadelphia, PA Redev Auth Rev Neighborhood Trans, Ser A (NATL Insd)			5.500				04/15/16				2,011,490
	1,500			Philadelphia, PA Rfdg, Ser A (AGL Insd)			5.500				08/01/24				1,678,320
	3,500			Philadelphia, PA Rfdg, Ser A (AGM Insd)			5.250				12/15/25				3,766,000
	2,500			Philadelphia, PA Sch Dist, Ser E (BHAC Insd)			5.125				09/01/23				2,766,625
	1,040			Philadelphia PA Ser B (AGL Insd)			7.125				07/15/38				1,180,982
	1,500			Philadelphia, PA Wtr & Wastewtr Rev, Ser A			5.250				01/01/36				1,566,840
	2,750			Philadelphia, PA Wtr & Wastewtr Rev, Ser C (b) (AGM Insd)			5.000				08/01/35				2,818,558
	500			Pittsburgh & Allegheny Cnty, PA Pub Aud Hotel Room (AMBAC Insd)			5.125				02/01/35				451,915

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	16,000			Pittsburgh & Allegheny Cnty, PA Pub Aud Regl Asset Dist Sales Tax (AMBAC Insd)			5.000	%			02/01/24			$	15,999,840
	4,990			Pittsburgh & Allegheny Cnty, PA Pub Aud Regl Asset Dist Sales Tax (AMBAC Insd)			5.000				02/01/29				4,792,097
	2,215			Pittsburgh, PA Pub Pkg Auth Rev Rfdg, Ser A (NATL Insd)			5.000				12/01/25				2,305,793
	5,140			Pittsburgh, PA, Ser A (AMBAC Insd)			5.500				09/01/17				5,298,466
	3,000			Pittsburgh, PA, Ser A (AMBAC Insd) (Prerefunded @ 3/01/12)			5.500				09/01/17				3,243,060
	1,455			Pittsburgh, PA Urban Redev Auth Mtg Rev, Ser C (GNMA Collateralized) (AMT)			5.700				04/01/30				1,455,800
	2,000			Pittsburgh, PA Wtr & Swr Auth Wtr & Swr Sys Rev 1st Lien, Ser D (AGM Insd)			5.000				09/01/24				2,155,140
	3,000			Pittsburgh, PA Wtr & Swr Auth Wtr & Swr Sys Rev 1st Lien, Ser D (AGM Insd)			5.000				09/01/25				3,211,830
	1,500			Radnor Twp, PA Sch Dist, Ser B (AGM Insd)			5.000				02/15/28				1,592,820
	900			Southcentral, PA Gen Auth Rev Wellspan (NATL Insd)			5.375				05/15/28				944,766
	4,100			Southcentral, PA Gen Auth Rev Wellspan (NATL Insd) (Prerefunded @ 5/15/11)			5.375				05/15/28				4,308,854
	2,500			State Pub Sch Bldg Auth PA Sch Rev Harrisburg Sch Dist Proj, Ser A (AGL Insd)			5.000				11/15/33				2,613,800

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	2,360			State Pub Sch Bldg Auth PA Sch Rev Jefferson Cnty Dubois Tech Sch (NATL Insd)			5.375	%			02/01/23			$	2,537,543
	2,140			Susquehanna Area Regl Arpt Auth PA Arpt Sys Rev, Ser A (AMBAC Insd) (AMT)			5.375				01/01/21				2,162,834
	5,205			Susquehanna Area Regl Arpt Auth PA Arpt Sys Rev, Ser A (AMBAC Insd) (AMT)			5.375				01/01/23				5,221,708
	2,545			Susquehanna Area Regl Arpt Auth PA Arpt Sys Rev, Ser A (AMBAC Insd) (AMT)			5.500				01/01/18				2,607,912
	5,500			Susquehanna Area Regl Arpt Auth PA Arpt Sys Rev, Ser D			5.375				01/01/18				5,085,410
	1,950			Swarthmore Boro Auth PA College			5.250				09/15/18				2,121,503
	2,850			Trinity Area Sch Dist PA (NATL Insd)			5.250				11/01/20				3,138,791
	1,820			Twin Vly, PA Sch Dist (AGM Insd) (Prerefunded @ 10/01/15)			5.250				04/01/26				2,181,288
	1,000			Union Cnty, PA Higher Ed Fac Auth Bucknell Univ, Ser A			5.250				04/01/19				1,102,870
	2,300			Union Cnty, PA Hosp Auth Hosp Rev Evangelical Cmnty Hosp (Radian Insd)			5.250				08/01/24				2,239,970
	1,285			Unity Twp, PA Muni Auth Swr Rev (AGM Insd)			5.000				12/01/24				1,355,084
	10,000			Univ Pittsburgh of The Comwlth Sys of Higher Ed PA Univ Cap Proj Rmkt, Ser A (a)(f)			5.250				09/15/30				11,064,200
	10,000			Univ Pittsburgh of The Comwlth Sys of Higher Ed PA Univ Cap Proj Rmkt Rfdg, Ser B (a)			5.250				09/15/34				10,919,400

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Pennsylvania (continued)
$	1,500			Washington Cnty, PA Indl Dev Auth College Rev Washington Jefferson College			5.250	%			11/01/30			$	1,571,610
	5,025			Washington Cnty, PA, Ser A (AMBAC Insd)			5.125				09/01/27				5,102,687
	825			Washington Cnty, PA, Ser A (AMBAC Insd) (Prerefunded @ 9/01/12)			5.125				09/01/27				906,403
	1,500			West Mifflin, PA Area Sch Dist (AGM Insd)			5.125				04/01/31				1,589,700
	500			West Mifflin, PA Area Sch Dist (AGM Insd)			5.500				04/01/24				569,160
	4,000			West Shore, PA Area Hosp Auth Holy Spirit Hosp Proj			6.250				01/01/32				4,022,320
	1,550			Westmoreland Cnty, PA Indl Dev Auth Rev Retirement Cmnty Redstone, Ser A			5.750				01/01/26				1,432,076
															512,462,258
				Guam 2.1%
	2,700			Guam Econ Dev & Comm Auth Tob Settlement			5.625				06/01/47				2,263,491
	1,250			Guam Govt Ltd Oblig Rev Sect 30, Ser A			5.625				12/01/29				1,288,338
	500			Guam Govt Ltd Oblig Rev Sect 30, Ser A			5.750				12/01/34				515,060
	1,585			Guam Intl Arpt Auth Gen, Ser B (NATL Insd)			5.250				10/01/21				1,634,151
	1,285			Guam Pwr Auth Rev, Ser A			5.500				10/01/40				1,274,977
															6,976,017

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Puerto Rico 5.0%
$	1,930			Puerto Rico Comwlth Infrastructure Fin Auth Spl Tax Rev Rfdg, Ser C (AMBAC Insd)			5.500	%			07/01/27			$	2,044,893
	1,000			Puerto Rico Elec Pwr Auth Pwr Rev, Ser TT			5.000				07/01/37				983,250
	2,000			Puerto Rico Elec Pwr Auth Pwr Rev, Ser WW			5.000				07/01/28				2,020,100
	1,500			Puerto Rico Elec Pwr Auth Pwr Rev, Ser WW			5.250				07/01/33				1,515,900
	1,000			Puerto Rico Elec Pwr Auth Pwr Rev, Ser WW			5.500				07/01/21				1,092,410
	5,000			Puerto Rico Sales Tax Fin Corp Sales Tax Rev Cap Apprec, Ser A			*				08/01/34				1,096,850
	2,260			Puerto Rico Sales Tax Fin Corp Sales Tax Rev Conv Cap Apprec, Ser A (e)			0.000/6.250				08/01/33				1,494,967
	2,500			Puerto Rico Sales Tax Fin Corp Sales Tax Rev First Sub, Ser A (d) (Prerefunded @ 8/01/11)			5.000				08/01/39				2,619,500
	1,500			Puerto Rico Sales Tax Fin Corp Sales Tax Rev First Sub, Ser A			5.375				08/01/39				1,522,290
	2,500			Puerto Rico Sales Tax Fin Corp Sales Tax Rev First Sub, Ser C			5.250				08/01/41				2,512,550
															16,902,710

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				U.S. Virgin Islands 2.5%
$	1,500			University VI Impt, Ser A			5.375	%			06/01/34			$	1,496,880
	1,000			Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt, Ser A			6.375				10/01/19				1,014,080
	3,000			Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt, Ser A (ACA Insd) (Prerefunded @ 10/01/10)			6.125				10/01/29				3,059,640
	2,425			Virgin Islands Pub Fin Auth Rev Matching Fd Ln Diago, Ser A			6.625				10/01/29				2,732,707
															8,303,307
Total Long-Term Investments 162.7% (Cost $532,566,398)															544,644,292
Total Short-Term Investments 1.9% (Cost $6,375,000)															6,375,000
Total Investments 164.6% (Cost $538,941,398)															551,019,292
Liability for Floating Rate Note Obligations Related to Securities Held (17.1%) (Cost ($57,105,000))
	(57,105	)		Notes with interest rates ranging from 0.28% to 0.38% at July 31, 2010 and contractual maturities of collateral ranging from 2021 to 2038 (g)											(57,105,000	)
Total Net Investments 147.5% (Cost $481,836,398)															493,914,292
Other Liabilities in Excess of Assets (1.5%)															(5,066,497	)
Preferred Shares (including accrued distributions) (46.0%)															(154,016,176	)
Net Assets Applicable to Common Shares 100.0%														$	334,831,619

Percentages are calculated as a percentage of net assets applicable to common shares.

*		Zero coupon bond
(a)		Underlying security related to Inverse Floaters entered into by the Trust.
(b)		Security purchased on a when-issued or delayed delivery basis.
(c)		Escrowed to Maturity
(d)		Variable Rate Coupon
(e)		Security is a “step up” bond where the coupon increases or steps up at a predetermined rate.

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

ACA — American Capital Access
AGL — Assured Guaranty Ltd.
AGM — Assured Guaranty Municipal Corp.
AMBAC — AMBAC Indemnity Corp.
AMT — Alternative Minimum Tax
BHAC — Berkshire Hathaway Assurance Corp.
GNMA — Government National Mortgage Association
NATL — National Public Finance Guarantee Corp.
Radian — Radian Asset Assurance
Syncora Gtd — Syncora Guaranteed Limited

Security Valuations Securities, including restricted securities, are valued according to the following policy.

     Securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices and may reflect appropriate factors such as institution-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, individual trading characteristics and other market data. Short-term obligations, including commercial paper, having 60 days or less to maturity are recorded at amortized cost which approximates value. Securities with a demand feature exercisable within one to seven days are valued at par. Debt securities are subject to interest rate and credit risks. In addition, all debt securities involve some risk of default with respect to interest and principal payments.

     Securities for which market quotations either are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust’s officers following procedures approved by the Board of Trustees. Some of the factors which may be considered in determining fair value are fundamental analytical data relating to the investment; the nature and duration of any restrictions on transferability or disposition; trading in similar securities by the same issuer or comparable companies; relevant political, economic or issuer specific news; and other relevant factors under the circumstances.

     Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

Fair Value Measurements Generally Accepted Accounting Principals (GAAP) defines fair value as the price that the Trust would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. GAAP establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Trust’s investments. The inputs are summarized in the three broad levels listed below.

Level 1	—	Prices are based on quoted prices in active markets for identical investments.
Level 2	—	Prices are based on other significant observable inputs which may include quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.

Invesco Van Kampen Pennsylvania Value Municipal Income Trust
Schedule of Investments — July 31, 2010 (Unaudited) continued

Level 3	—	Prices are based on significant unobservable inputs including the Trust’s own assumptions in determining the fair value of investments. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer’s financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances.

     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 July 31, 2010 in valuing the Trust’s investments carried at value.

Level 2

Level 3

Level 1

Other Significant

Significant

Quoted

Observable

Unobservable

Prices

Inputs

Inputs

Total

Municipal Securities

$

-0-

$

551,019,293

$

-0-

$

551,019,293

Investment Securities Cost of investments on a tax basis includes the adjustments for financial reporting purposes as of the most recently completed Federal income tax reporting period-end.

Unrealized Appreciation (Depreciation) of Investment Securities on a Tax Basis

Aggregate unrealized appreciation of investment securities		$	16,995,952
Aggregate unrealized (depreciation) of investment securities			(6,587,623	)
Net unrealized appreciation of investment securities		$	10,408,329

Cost of investments for tax purposes is $483,507,478.

Item 2. Controls and Procedures.

	(a)		As of September 16, 2010, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (“PEO”) and Principal Financial Officer (“PFO”), to assess the effectiveness of the Registrant’s disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (“Act”), as amended. Based on that evaluation, the Registrant’s officers, including the PEO and PFO, concluded that, as of , September 16, 2010, the Registrant’s disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure.
	(b)		There have been no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940.

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.

Registrant: Invesco Van Kampen Pennsylvania Value Municipal Income Trust

Date: September 29, 2010

Pursuant to the requirements of the Securities and 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.

Date: September 29, 2010

Date: September 29, 2010

EXHIBIT INDEX

Certifications of Principal Executive Officer (“PEO”) and Principal Financial Officer (“PFO”) as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended.