UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-03111

Name of Fund: BIF Tax-Exempt Fund

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John Perlowski, Chief Executive Officer, BIF Tax-Exempt Fund, 55 East 52^nd Street, New York City, NY 10055.

Registrant’s telephone number, including area code: (800) 626-1960

Date of fiscal year end: 03/31

Date of reporting period: 07/01/2014 – 06/30/2015

Item 1 – Proxy Voting Record – The registrant is a feeder fund in a master/feeder structure and as such holds interests of Master Tax-Exempt LLC (the “Master LLC”). Voting records of the Master LLC can be found by accessing the Form N-PX filed by the Master LLC (Investment Company Act file no. 811-21301, CIK no. 0001186243) on August 26, 2015.

******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-03111
Reporting Period: 07/01/2014 - 06/30/2015
BIF Tax-Exempt Fund









============================= BIF Tax-Exempt Fund ==============================

There is no proxy voting activity for the fund, as the fund did not hold any
votable positions during the reporting period.
========== END NPX REPORT

Pursuant to the requirements of 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.

BIF Tax-Exempt Fund

By:	/s/ John Perlowski
	John Perlowski Chief Executive Officer of BIF Tax-Exempt Fund

Date: August 26, 2015