0000928816-11-001443.txt : 20111027 0000928816-11-001443.hdr.sgml : 20111027 20111027131733 ACCESSION NUMBER: 0000928816-11-001443 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110831 FILED AS OF DATE: 20111027 DATE AS OF CHANGE: 20111027 EFFECTIVENESS DATE: 20111027 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/ CENTRAL INDEX KEY: 0000792288 IRS NUMBER: 046626127 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04518 FILM NUMBER: 111161191 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND II DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND /MA/ DATE OF NAME CHANGE: 19920609 0000792288 S000006210 PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND C000017118 Class C Shares C000017119 Class M Shares C000017120 Class A Shares PXMAX C000017121 Class B Shares PMABX C000060571 CLASS Y N-Q 1 a_masstxexincfnd.htm PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND a_masstxexincfnd.htm


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: (811-04518)
Exact name of registrant as specified in charter: Putnam Massachusetts Tax Exempt Income Fund
Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109
Name and address of agent for service: Beth S. Mazor, Vice President
One Post Office Square
Boston, Massachusetts 02109
Copy to:         John W. Gerstmayr, Esq.
Ropes & Gray LLP
800 Boylston Street
Boston, Massachusetts 02199-3600
Registrant’s telephone number, including area code: (617) 292-1000
Date of fiscal year end: May 31, 2012
Date of reporting period: August 31, 2011



Item 1. Schedule of Investments:













Putnam Massachusetts Tax Exempt Income Fund

The fund's portfolio
8/31/11 (Unaudited)
Key to holding's abbreviations
AGM — Assured Guaranty Municipal Corporation
AGO — Assured Guaranty, Ltd.
AMBAC — AMBAC Indemnity Corporation
Cmnwlth. of PR Gtd. — Commonwealth of Puerto Rico Guaranteed
FGIC — Financial Guaranty Insurance Company
FRB — Floating Rate Bonds
G.O. Bonds — General Obligation Bonds
GNMA Coll. — Government National Mortgage Association Collateralized
NATL — National Public Finance Guarantee Corp.
SGI — Syncora Guarantee, Inc.
VRDN — Variable Rate Demand Notes
MUNICIPAL BONDS AND NOTES (99.1%)(a)
Rating(RAT) Principal amount Value
Guam (0.7%)
Territory of GU, Govt. Wtr. Wks. Auth. Wtr. & Waste Wtr. Syst. Rev. Bonds, 5 5/8s, 7/1/40 Ba2 $600,000 $550,872
Territory of GU, Rev. Bonds, Ser. A, 5 3/8s, 12/1/24 BBB- 1,000,000 1,019,570
Territory of GU, Pwr. Auth. Rev. Bonds, Ser. A, 5 1/2s, 10/1/40 BBB 500,000 472,330
2,042,772
Massachusetts (87.4%)
Boston, Indl. Dev. Fin. Auth. Rev. Bonds (Springhouse, Inc.), 6s, 7/1/28 BB-/P 2,150,000 1,906,190
Boston, Indl. Dev. Fin. Auth. Swr. Fac. Rev. Bonds (Harbor Elec. Energy Co.), 7 3/8s, 5/15/15 Aa3 2,755,000 2,764,863
Boston, Wtr. & Swr. Comm. Rev. Bonds, Ser. A, 5 3/4s, 11/1/13 Aa1 2,015,000 2,119,155
Framingham, Hsg. Auth. Rev. Bonds (Beaver Terrace), Ser. A, GNMA Coll., 6.35s, 2/20/32 AA+ 2,100,000 2,206,974
Hampden & Wilbraham, Regl. School Dist. G.O. Bonds, 5s, 2/15/41 Aa3 2,000,000 2,071,500
Lowell, G.O. Bonds, Ser. A, SGI, 5s, 9/15/22 Aa2 1,750,000 1,924,125
MA Bay Trans. Auth. Sales Tax Rev. Bonds
     Ser. C, 5 1/2s, 7/1/16 AAA 2,855,000 3,451,981
     Ser. C, 5 1/2s, 7/1/16 (Escrowed to maturity) Aa1 120,000 146,230
     Ser. A, 5s, 7/1/31 AAA 3,390,000 3,865,787
MA Dev. Fin. Agcy. Sr. Living Fac. Rev. Bonds (Groves-Lincoln), Ser. A, 7 7/8s, 6/1/44 BB-/P 1,650,000 1,685,525
MA Edl. Fin. Auth. Rev. Bonds, Ser. B, 5.7s, 1/1/31 AA 2,285,000 2,319,549
MA State G.O. Bonds
     Ser. C, AMBAC, 5s, 8/1/37 Aa1 2,000,000 2,102,000
     (Construction Loan), Ser. A, 5s, 8/1/27 Aa1 2,000,000 2,233,140
MA State VRDN (Construction Loan), Ser. A, 0.11s, 3/1/26 VMIG1 5,000,000 5,000,000
MA State College Bldg. Auth. Rev. Bonds
     Ser. B, SGI, 5 1/2s, 5/1/28 Aa2 4,000,000 4,794,920
     Ser. A, AGO, 5s, 5/1/28 AA+ 2,270,000 2,436,981
MA State Dept. Trans. Rev. Bonds (Metro Hwy. Syst.), Ser. B
     5s, 1/1/37 A 2,250,000 2,281,950
     5s, 1/1/32 A3 1,840,000 1,887,730
MA State Dev. Fin. Agcy. Rev. Bonds
     (Sabis Intl.), Ser. A, 8s, 4/15/39 BBB 575,000 635,881
     (Tufts Med. Ctr.), Ser. I, 7 1/4s, 1/1/32 BBB 2,000,000 2,232,240
     (Linden Ponds, Inc. Fac.), Ser. A, 5 3/4s, 11/15/42 D/P 1,900,000 1,045,000
     (WGBH Edl. Foundation), Ser. A, AMBAC, 5 3/4s, 1/1/42 A 5,000,000 5,393,700
     (Linden Ponds, Inc.), Ser. A, 5 3/4s, 11/15/35 D/P 600,000 336,000
     (Boston Biomedical Research), 5 3/4s, 2/1/29 Ba1 1,750,000 1,580,548
     (Hampshire College), 5.7s, 10/1/34 Baa2 1,315,000 1,283,637
     (Hampshire College), 5 5/8s, 10/1/24 Baa2 1,000,000 1,014,420
     (Emerson College), Ser. A, 5 1/2s, 1/1/30 A- 900,000 949,041
     (New England Conservatory of Music), 5 1/4s, 7/1/38 Baa1 3,000,000 2,919,810
     (Simmons College), Ser. H, SGI, 5 1/4s, 10/1/33 Baa1 1,000,000 959,600
     (Lesley U.), Ser. B-1, AGM, 5 1/4s, 7/1/33 AA+ 2,000,000 2,066,500
     (Wheelock College), Ser. C, 5 1/4s, 10/1/29 BBB 1,100,000 1,098,680
     (Carleton-Willard Village), 5 1/4s, 12/1/25 A- 700,000 699,944
     (Suffolk U.), 5 1/8s, 7/1/40 Baa2 1,500,000 1,332,150
     (Middlesex School), 5 1/8s, 9/1/23 A1 1,000,000 1,022,610
     (Emerson College), Ser. A, 5s, 1/1/40 A- 3,400,000 3,402,040
     (Boston College), Ser. P, 5s, 7/1/38 Aa3 2,000,000 2,069,200
     (Brandeis U.), Ser. 0-1, 5s, 10/1/35 A1 1,000,000 1,011,210
     (MA College Pharmacy Allied), Ser. E, AGO, 5s, 7/1/31 AA+ 2,000,000 2,045,440
     (Boston U.), Ser. V-1, 5s, 10/1/29 A2 2,000,000 2,109,900
     (Boston College), Ser. Q-1, 5s, 7/1/29 Aa3 1,050,000 1,147,860
     (Mount Holyoke College), 5s, 7/1/28 Aa3 3,000,000 3,257,490
     (Holy Cross College), Ser. B, 5s, 9/1/25 Aa3 1,500,000 1,655,970
     (First Mtge. - Orchard Cove), 5s, 10/1/19 BB/P 550,000 507,249
     (First Mtge. - Orchard Cove), 5s, 10/1/18 BB/P 515,000 484,527
     (WGBH Edl. Foundation), Ser. B, AGO, zero %, 1/1/29 AA+ 2,000,000 936,380
     (WGBH Edl. Foundation), Ser. B, AGO, zero %, 1/1/28 AA+ 2,000,000 992,480
MA State Dev. Fin. Agcy. Solid Waste Disp. FRB (Dominion Energy Brayton Point), 5s, 2/1/36 A- 1,000,000 968,450
MA State Dev. Fin. Agcy. Solid Waste Disp. Mandatory Put Bonds (5/1/19) (Dominion Energy Brayton 1), Ser. 1, 5 3/4s, 12/1/42 A- 950,000 1,038,958
MA State Hlth. & Edl. Fac. Auth. Rev. Bonds
     (Quincy Med. Ctr.), Ser. A, 6 1/2s, 1/15/38 (In default)(NON) B+/P 1,000,000 810,000
     (UMass Memorial), Ser. C, 6 1/2s, 7/1/21 A- 3,125,000 3,126,625
     (Berkshire Hlth. Syst.), Ser. E, 6 1/4s, 10/1/31 BBB+ 1,300,000 1,300,676
     (Harvard U.), Ser. N, 6 1/4s, 4/1/20 Aaa 5,000,000 6,628,700
     (Hlth. Care Syst.-Covenant Hlth.), 6s, 7/1/31 A 2,370,000 2,396,947
     (Partners Hlth. Care Syst.), Ser. C, 6s, 7/1/15 Aa2 75,000 76,001
     (Suffolk U.), Ser. A, 5 3/4s, 7/1/39 Baa2 3,000,000 2,938,560
     (Baystate Med. Ctr.), Ser. I, 5 3/4s, 7/1/36 A+ 2,000,000 2,008,560
     (Partners Hlth. Care Syst.), Ser. C, 5 3/4s, 7/1/32 Aa2 150,000 151,529
     (Baystate Med. Ctr.), Ser. F, 5.7s, 7/1/27 A+ 1,000,000 1,004,270
     (Springfield College), 5 5/8s, 10/15/40 Baa1 2,000,000 1,934,580
     (Harvard U.), Ser. A, 5 1/2s, 11/15/36 Aaa 2,185,000 2,447,331
     (Cape Cod Hlth. Care), Ser. B, 5.45s, 11/15/23 BBB+ 2,600,000 2,599,844
     (Milton Hosp.), Ser. D, 5 3/8s, 7/1/35 BB- 2,065,000 1,722,169
     (Jordan Hosp.), Ser. D, 5 3/8s, 10/1/28 BB- 3,000,000 2,582,790
     (Care Group), Ser. B-1, NATL, 5 3/8s, 2/1/27 A3 1,030,000 1,061,353
     (Care Group), Ser. B-2, NATL, 5 3/8s, 2/1/27 A3 1,000,000 1,030,440
     (Boston College), Ser. K, 5 3/8s, 6/1/14 Aa3 2,305,000 2,481,817
     (Lesley U.), Ser. A, AGO, 5 1/4s, 7/1/39 AA+ 1,000,000 1,026,360
     (Winchester Hosp.), 5 1/4s, 7/1/38 BBB+ 2,225,000 2,006,372
     (Lahey Clinic Med. Ctr.), Ser. D, 5 1/4s, 8/15/28 A+ 3,000,000 3,047,280
     (Dana-Farber Cancer Inst.), Ser. K, 5 1/4s, 12/1/27 A1 2,500,000 2,658,975
     (MA Inst. of Tech.), Ser. I-1, 5.2s, 1/1/28 Aaa 10,000,000 12,282,293
     (Care Group), Ser. E-1, 5 1/8s, 7/1/38 A3 1,000,000 966,690
     (Fisher College), Ser. A, 5 1/8s, 4/1/37 BBB- 755,000 646,378
     (Lowell Gen. Hosp.), Ser. C, 5 1/8s, 7/1/35 Baa1 725,000 634,288
     (Wheaton Coll.), Ser. F, 5s, 1/1/41 A2 3,000,000 3,034,410
     (Partners Hlth. Care Syst.), Ser. J-1, 5s, 7/1/39 Aa2 1,500,000 1,518,285
     (Southcoast Hlth. Oblig.), Ser. D, 5s, 7/1/39 A2 1,500,000 1,441,110
     (Harvard U.), Ser. B, 5s, 10/1/38 Aaa 500,000 533,355
     (MA Inst. of Tech.), Ser. A, 5s, 7/1/38 Aaa 2,250,000 2,381,220
     (Berklee College of Music), Ser. A, 5s, 10/1/37 A2 1,750,000 1,759,940
     (Milford Regl. Med.), Ser. E, 5s, 7/15/37 Baa3 850,000 706,988
     (Sterling & Francine Clark), Ser. A, 5s, 7/1/36 AA 1,000,000 1,031,870
     (Harvard U.), 5s, 7/15/35 Aaa 2,750,000 2,871,275
     (Milford Regl. Med.), Ser. E, 5s, 7/15/32 Baa3 1,175,000 1,017,303
     (Care Group), Ser. E-1, 5s, 7/1/28 A3 1,730,000 1,735,830
     (Northeastern U.), Ser. R, 5s, 10/1/26 A2 1,165,000 1,220,734
     (Worcester City Campus Corp.), Ser. E, FGIC, NATL, 5s, 10/1/26 AA- 2,000,000 2,104,960
     (Milford Regl. Med.), Ser. E, 5s, 7/15/22 Baa3 1,800,000 1,765,908
     (Fisher College), Ser. A, 5s, 4/1/22 BBB- 1,110,000 1,093,850
MA State Hlth. & Edl. Fac. Auth. VRDN
     (Museum of Fine Arts), Ser. A2, 0.18s, 12/1/37 VMIG1 2,500,000 2,500,000
     (Harvard U.), Ser. R, 0.07s, 11/1/49 VMIG1 5,325,000 5,325,000
MA State Hsg. Fin. Agcy. FRB (Single Fam. Hsg.), Ser. 126, 4.7s, 6/1/38 Aa2 1,680,000 1,525,507
MA State Hsg. Fin. Agcy. Rev. Bonds
     Ser. C, 5.35s, 12/1/42 Aa3 1,500,000 1,493,100
     (Single Fam.), Ser. 139, 5 1/8s, 12/1/28 Aa2 1,000,000 1,028,290
     Ser. D, 5.05s, 6/1/40 Aa3 1,685,000 1,705,321
     (Single Fam.), Ser. 153, 4 3/4s, 12/1/27 Aa2 510,000 509,964
MA State Indl. Fin. Agcy. Rev. Bonds
     (American Hingham, Wtr. Treatment), 6 3/4s, 12/1/25 BBB+/P 4,520,000 4,520,497
     (1st Mtge. Berkshire Retirement), Ser. A, 6 5/8s, 7/1/16 BBB 2,790,000 2,799,430
MA State Port Auth. Rev. Bonds
     Ser. A, 5s, 7/1/34 Aa3 3,500,000 3,667,580
     Ser. A, NATL, 5s, 7/1/33 Aa3 2,400,000 2,432,304
     Ser. C, AGM, 5s, 7/1/27 AA+ 5,000,000 5,188,650
     Ser. A, AMBAC, 5s, 7/1/26 Aa3 3,000,000 3,220,500
MA State Port Auth. Special Fac. Rev. Bonds
     (Conrac), Ser. A, 5 1/8s, 7/1/41 A 750,000 759,473
     (BOSFUEL), FGIC, NATL, 5s, 7/1/27 A3 2,500,000 2,507,325
MA State School Bldg. Auth. Dedicated Sales Tax Rev. Bonds, Ser. A, AGM
     5s, 8/15/26 Aa1 6,000,000 6,489,300
     5s, 8/15/23 Aa1 5,000,000 5,541,700
MA State Wtr. Poll. Abatement Trust Rev. Bonds
     Ser. 5, 5 3/8s, 8/1/27 Aaa 4,490,000 4,502,662
     Ser. 14, 5s, 8/1/32 Aaa 4,000,000 4,379,200
     Ser. 13, 5s, 8/1/26 Aaa 1,000,000 1,108,570
MA State Wtr. Resource Auth. Rev. Bonds
     Ser. A, 6 1/2s, 7/15/19 (Escrowed to maturity) Aa1 5,500,000 6,781,720
     Ser. A, NATL, 5s, 8/1/29 Aa1 4,000,000 4,174,240
     Ser. A, NATL, 5s, 8/1/29 Aa1 3,225,000 3,464,843
     Ser. A, NATL, 5s, 8/1/27 Aa1 1,500,000 1,629,000
     Ser. B, AMBAC, 5s, 8/1/26 Aa1 2,000,000 2,227,880
Metro. Boston, Trans. Pkg. Corp. Rev. Bonds, 5 1/4s, 7/1/36 A1 1,500,000 1,565,385
Milford, G.O. Bonds, AGM, 5 1/8s, 12/15/24 Aa2 2,475,000 2,755,715
Norwell, G.O. Bonds, AMBAC, 5s, 2/15/25 AAA 1,000,000 1,056,430
260,042,967
Puerto Rico (10.5%)
Children's Trust Fund Tobacco Settlement Rev. Bonds
     5 1/2s, 5/15/39 BBB 1,800,000 1,492,308
     5 3/8s, 5/15/33 BBB 1,995,000 1,837,834
Cmnwlth. of PR, G.O. Bonds, Ser. A, 5 1/4s, 7/1/26 Baa1 1,620,000 1,632,895
Cmnwlth. of PR, Aqueduct & Swr. Auth. Rev. Bonds, Ser. A
     6s, 7/1/44 Baa2 4,250,000 4,294,498
     6s, 7/1/38 Baa2 1,250,000 1,264,500
Cmnwlth. of PR, Elec. Pwr. Auth. Rev. Bonds
     Ser. XX, 5 1/4s, 7/1/40 A3 3,000,000 2,891,940
     Ser. CCC, 5s, 7/1/28 A3 2,000,000 2,004,100
     Ser. TT, 5s, 7/1/27 A3 1,350,000 1,358,708
Cmnwlth. of PR, Hwy. & Trans. Auth. Rev. Bonds
     Ser. AA-2, 5.3s, 7/1/35 A3 525,000 511,109
     Ser. L, AMBAC, 5 1/4s, 7/1/38 Baa1 3,250,000 2,991,495
     Ser. K, 5s, 7/1/30 Baa1 1,500,000 1,469,445
     Ser. I, FGIC, 5s, 7/1/25 Baa1 3,000,000 3,009,960
Cmnwlth. of PR, Pub. Bldg. Auth. Mandatory Put Bonds (7/1/17) (Govt. Fac.), Ser. M-2, 5 3/4s, 7/1/34 Baa1 1,500,000 1,624,470
Cmnwlth. of PR, Pub. Bldg. Auth. Rev. Bonds (Govt. Fac.), Ser. I, Cmnwlth. of PR Gtd., 5 1/4s, 7/1/29 Baa1 685,000 686,192
Cmnwlth. of PR, Sales Tax Fin. Corp. Rev. Bonds
     Ser. A, 6s, 8/1/42 A1 2,250,000 2,362,320
     Ser. C, 5 1/4s, 8/1/41 A1 1,750,000 1,744,663
31,176,437
Virgin Islands (0.5%)
VI Pub. Fin. Auth. Rev. Bonds, Ser. A
     6s, 10/1/39 Baa3 600,000 611,874
     5s, 10/1/25 Baa2 850,000 854,896
1,466,770
TOTAL INVESTMENTS
Total investments (cost $281,935,427)(b) $294,728,946













Notes to the fund's portfolio
Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from June 1, 2011 through August 31, 2011 (the reporting period).
(a) Percentages indicated are based on net assets of $297,555,108.
(RAT) The Moody's, Standard & Poor's or Fitch ratings indicated are believed to be the most recent ratings available at the close of the reporting period for the securities listed. Ratings are generally ascribed to securities at the time of issuance. While the agencies may from time to time revise such ratings, they undertake no obligation to do so, and the ratings do not necessarily represent what the agencies would ascribe to these securities at the close of the reporting period. Securities rated by Putnam are indicated by “/P.” Securities rated by Fitch are indicated by “/F.” The rating of an insured security represents what is believed to be the most recent rating of the insurer's claims-paying ability available at the close of the reporting period and does not reflect any subsequent changes. Security ratings are defined in the Statement of Additional Information.
(b) The aggregate identified cost on a tax basis is $281,935,427, resulting in gross unrealized appreciation and depreciation of $15,076,547 and $2,283,028, respectively, or net unrealized appreciation of $12,793,519.
The rates shown on FRB, Mandatory Put Bonds and VRDN are the current interest rates at the close of the reporting period.
The dates shown parenthetically on Mandatory Put Bonds represent the next mandatory put dates.
The dates shown parenthetically on prerefunded bonds represent the next prerefunding dates.
The dates shown on debt obligations are the original maturity dates.
The fund had the following sector concentrations greater than 10% at the close of the reporting period (as a percentage of net assets):
Education 29.5%
Healthcare 16.5
Utilities 15.4
Security valuation: Tax-exempt bonds and notes are generally valued on the basis of valuations provided by an independent pricing service approved by the Trustees. Such services use information with respect to transactions in bonds, quotations from bond dealers, market transactions in comparable securities and various relationships between securities in determining value. These securities will generally be categorized as Level 2.
Certain investments, including certain restricted and illiquid securities and derivatives are also valued at fair value following procedures approved by the Trustees. Such valuations and procedures are reviewed periodically by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures and recovery rates. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.












Accounting Standards Codification ASC 820 Fair Value Measurements and Disclosures (ASC 820) establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund’s investments. The three levels are defined as follows:
Level 1 – Valuations based on quoted prices for identical securities in active markets.
Level 2 – Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
Level 3 – Valuations based on inputs that are unobservable and significant to the fair value measurement.
The following is a summary of the inputs used to value the fund’s net assets as of the close of the reporting period:

 Valuation inputs
Investments in securities: Level 1 Level 2 Level 3
Municipal bonds and notes $— $294,728,946 $—
Totals by level $— $294,728,946 $—


For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com



Item 2. Controls and Procedures:
(a) The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms.

(b) Changes in internal control over financial reporting: During the period, State Street Bank and Trust Company, which provides certain administrative, pricing and bookkeeping services for the Putnam funds pursuant to an agreement with Putnam Investment Management, LLC, began utilizing different accounting systems and systems support in providing services for the fund.

Item 3. Exhibits:
Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

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.

Putnam Massachusetts Tax Exempt Income Fund

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: October 27, 2011

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

By (Signature and Title):
/s/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: October 27, 2011

By (Signature and Title):
/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: October 27, 2011

EX-99.CERT 2 b_845certifications.htm CERTIFICATION b_845certifications.htm

Certifications

I, Jonathan S. Horwitz, the Principal Executive Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:


a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;


b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and


d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions):


a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and


b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting.

/s/ Jonathan S. Horwitz
_____________________________

Date: October 27, 2011
Jonathan S. Horwitz
Principal Executive Officer













Certifications

I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:


a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;


b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and


d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions):


a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and


b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting.

/s/ Steven D. Krichmar
_______________________________

Date: October 27, 2011
Steven D. Krichmar
Principal Financial Officer














Attachment A

NQ

Period (s) ended August 31, 2011
               Putnam Arizona Tax Exempt Income Fund
               Putnam Minnesota Tax Exempt Income Fund
               Putnam Massachusetts Tax Exempt Income Fund
               Putnam New York Tax Exempt Income Fund
               Putnam High Yield Advantage Fund
               Putnam Equity Income Fund
               Putnam Pennsylvania Tax Exempt Income Fund
               Putnam Ohio Tax Exempt Income Fund
               Putnam New Jersey Tax Exempt Income Fund
               Putnam Michigan Tax Exempt Income Fund
               Putnam Dynamic Asset Allocation Equity Fund (formerly Putnam Asset Allocation: Equity Portfolio)