SEC Form N-CSRS filed by Invesco Trust for Investment Grade New York Municipals

11/1/24 1:32:03 PM ET

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N-CSRS

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

811-06537

Invesco Trust for Investment Grade New York Municipals

(Exact name of registrant as specified in charter)

1555 Peachtree Street, N.E., Suite 1800 Atlanta, Georgia 30309

(Address of principal executive offices) (Zip code)

Glenn Brightman 1555 Peachtree Street, N.E., Suite 1800 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: February 28

Date of reporting period: August 31, 2024

Item 1.

Reports to Stockholders

(a) The Registrant’s semi-annual report transmitted to shareholders pursuant to Rule

30e-1

under the Investment Company Act of 1940 is as follows:



Semi-Annual Report to Shareholders		August 31, 2024

Invesco Trust for Investment Grade New York Municipals

NYSE:

VTN



2		Trust Performance

2		Share Repurchase Program Notice

3		Dividend Reinvestment Plan

4		Schedule of Investments

10		Financial Statements

15		Notes to Financial Statements

20		Approval of Investment Advisory and Sub-Advisory Contracts

22		Proxy Results

Unless otherwise noted, all data is provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Trust Performance



Performance summary
Cumulative total returns, 2/29/24 to 8/31/24
Trust at NAV	2.45	%
Trust at Market Value	11.57
S&P Municipal Bond Index ▼ (Broad Market Index)	1.94
S&P Municipal Bond New York 5+ Year Investment Grade Index ▼ (Style-Specific Index)	1.60
Market Price Discount to NAV as of 8/31/24	-5.23

Source(s): ▼ RIMES Technologies Corp.

The performance data quoted represent past performance and cannot guarantee future results; current performance may be lower or higher. Investment return, net asset value (NAV) and common share market price will fluctuate so that you may have a gain or loss when you sell shares. Please visit invesco.com/us for the most recent month-end performance. Performance figures reflect Trust expenses, the reinvestment of distributions (if any) and changes in NAV for performance based on NAV and changes in market price for performance based on market price. Since the Trust is a closed-end management investment company, shares of the Trust may trade at a discount or premium from the NAV. This characteristic is separate and distinct from the risk that NAV could decrease as a result of investment activities and may be a greater risk to investors expecting to sell their shares after a short time. The Trust cannot predict whether shares will trade at, above or below NAV. The Trust should not be viewed as a vehicle for trading purposes. It is designed primarily for risk-tolerant long-term investors. The S&P Municipal Bond Index is a broad, market value-weighted index that seeks to measure the performance of the US municipal bond market. The S&P Municipal Bond New York 5+ Year Investment Grade Index seeks to measure the performance of investment-grade, New York-issued US municipals with maturities equal to or greater than five years. The Trust is not managed to track the performance of any particular index, including the index(es) described here, and consequently, the performance of the Trust may deviate significantly from the performance of the index(es). A direct investment cannot be made in an index. Unless otherwise indicated, index results include reinvested dividends, and they do not reflect sales charges. Performance of the peer group, if applicable, reflects fund expenses; performance of a market index does not.

Important Notice Regarding Share Repurchase Program

In September 2024, the Board of Trustees of the Trust approved a share repurchase program that allows the Trust to repurchase up to 25% of the 20-day average trading volume

of the Trust’s common shares when the Trust is trading at a 10% or greater discount to its net asset value. The Trust will repurchase

shares pursuant to this program if the Adviser reasonably believes that such repurchases may enhance shareholder value.


2		Invesco Trust for Investment Grade New York Municipals

Dividend Reinvestment Plan

The dividend reinvestment plan (the Plan) offers you a prompt and simple way to reinvest your dividends and capital gains distributions (Distributions) into additional shares of your Invesco

closed-end

Trust (the Trust). Under the Plan, the money you earn from Distributions will be reinvested automatically in more shares of the Trust, allowing you to potentially increase your investment over time. All shareholders in the Trust are automatically enrolled in the Plan when shares are purchased.

Plan benefits

∎	Add to your account:

You may increase your shares in your Trust easily and automatically with the Plan.

∎	Low transaction costs:

Shareholders who participate in the Plan may be able to buy shares at below-market prices when the Trust is trading at a premium to its net asset value (NAV). In addition, transaction costs are low because when new shares are issued by the Trust, there is no brokerage fee, and when shares are bought in blocks on the open market, the per share fee is shared among all participants.

∎	Convenience:

You will receive a detailed account statement from Computershare Trust Company, N.A. (the Agent), which administers the Plan. The statement shows your total Distributions, date of investment, shares acquired, and price per share, as well as the total number of shares in your reinvestment account. You can also access your account at

invesco.com/closed-end.

∎	Safekeeping:

The Agent will hold the shares it has acquired for you in safekeeping.

Who can participate in the Plan

If you own shares in your own name, your purchase will automatically enroll you in the Plan. If your shares are held in “street name” – in the name of your brokerage firm, bank, or other financial institution – you must instruct that entity to participate on your behalf. If they are unable to participate on your behalf, you may request that they reregister your shares in your own name so that you may enroll in the Plan.

How to enroll

If you haven’t participated in the Plan in the past or chose to opt out, you are still eligible to participate. Enroll by visiting

invesco.com/closed-end,

by calling toll-free 800 341 2929 or by notifying us in writing at Invesco

Closed-End

Funds, Computer-share Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078. If you are writing to us, please include the Trust name and account number and ensure that all shareholders listed on the account sign these written instructions. Your participation in the Plan will begin with the next Distribution payable after the Agent receives your authorization, as long as they receive it before the “record date,” which is generally 10 business days before the Distribution is paid. If your authorization arrives after such record date, your participation in the Plan will begin with the following Distribution.

How the Plan works

If you choose to participate in the Plan, your Distributions will be promptly reinvested for you, automatically increasing your shares. If the Trust is trading at a share price that is equal to its NAV, you’ll pay that amount for your reinvested shares. However, if the Trust is trading above or below NAV, the price is determined by one of two ways:

Premium: If the Trust is trading at a premium – a market price that is higher than its NAV – you’ll pay either the NAV or 95 percent of

the market price, whichever is greater. When the Trust trades at a premium, you may pay less for your reinvested shares than an investor purchasing shares on the stock exchange. Keep in mind, a portion of your price reduction may be taxable because you are receiving shares at less than market price.

Discount: If the Trust is trading at a discount – a market price that is lower than its NAV – you’ll pay the market price for your reinvested shares.

Costs of the Plan

There is no direct charge to you for reinvesting Distributions because the Plan’s fees are paid by the Trust. If the Trust is trading at or above its NAV, your new shares are issued directly by the Trust and there are no brokerage charges or fees. However, if the Trust is trading at a discount, the shares are purchased on the open market, and you will pay your portion of any per share fees. These per share fees are typically less than the standard brokerage charges for individual transactions because shares are purchased for all participants in blocks, resulting in lower fees for each individual participant. Any service or per share fees are added to the purchase price. Per share fees include any applicable brokerage commissions the Agent is required to pay.

Tax implications

The automatic reinvestment of Distributions does not relieve you of any income tax that may be due on Distributions. You will receive tax information annually to help you prepare your federal income tax return.

Invesco does not offer tax advice. The tax information contained herein is general and is not exhaustive by nature. It was not intended or written to be used, and it cannot be used, by any taxpayer for avoiding penalties that may be imposed on the taxpayer under US federal tax laws. Federal and state tax laws are complex and constantly changing. Shareholders should always consult a legal or tax adviser for information concerning their individual situation.

How to withdraw from the Plan

You may withdraw from the Plan at any time by calling 800 341 2929, by visiting invesco.com/

closed-end

or by writing to Invesco

Closed-End

Funds, Computershare Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078. Simply indicate that you would like to withdraw from the Plan, and be sure to include your Trust name and account number. Also, ensure that all shareholders listed on the account sign these written instructions. If you withdraw, you have three options with regard to the shares held in the Plan:

If you opt to continue to hold your

non-certificated

whole shares (Investment Plan Book Shares), they will be held by the Agent electronically as Direct Registration Book-Shares (Book-Entry Shares) and fractional shares will be sold at the then-current market price. Proceeds will be sent via check to your address of record after deducting applicable fees, including per share fees such as any applicable brokerage commissions the Agent is required to pay.

If you opt to sell your shares through the Agent, we will sell all full and fractional shares and send the proceeds via check to your address of record after deducting $2.50 per account and a brokerage charge.

You may sell your shares through your financial adviser through the Direct Registration System (DRS). DRS is a service within the securities industry that allows Trust shares to be held in your name in electronic format. You retain full ownership of your shares, without having to hold a share certificate. You should contact your financial adviser to learn more about any restrictions or fees that may apply.

The Trust and Computershare Trust Company, N.A. may amend or terminate the Plan at any time. Participants will receive at least 30 days written notice before the effective date of any amendment. In the case of termination, Participants will receive at least 30 days written notice before the record date for the payment of any such Distributions by the Trust. In the case of amendment or termination necessary or appropriate to comply with applicable law or the rules and policies of the Securities and Exchange Commission or any other regulatory authority, such written notice will not be required.

To obtain a complete copy of the current Dividend Reinvestment Plan, please call our Client Services department at 800 341 2929 or visit

invesco.com/closed-end.


3		Invesco Trust for Investment Grade New York Municipals

Schedule of Investments

August 31, 2024

(Unaudited)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Municipal Obligations-155.09% (a)
New York-152.15%
Albany Capital Resource Corp. (College of Siant Rose (The)); Series 2021, Ref. RB (Acquired 10/28/2021; Cost $635,790) (b)(c)		4.00%		07/01/2051	$	605	$ 319,268
Albany Capital Resource Corp. (KIPP Capital Region Public Charter Schools); Series 2024, RB		5.00%		06/01/2064		150	151,486
Allegany County Capital Resource Corp. (Houghton College); Series 2022 A, Ref. RB		5.00%		12/01/2042		325	308,003
Amherst Development Corp. (Daemen College); Series 2018, Ref. RB		5.00%		10/01/2048		980	930,649
Brookhaven Local Development Corp. (Jefferson’s Ferry); Series 2016, Ref. RB		5.25%		11/01/2036		1,010	1,041,328
Brooklyn Arena Local Development Corp. (Barclays Center); Series 2009, RB (d)		0.00%		07/15/2034		8,315	5,729,778
Buffalo & Erie County Industrial Land Development Corp. (Orchard Park); Series 2015, Ref. RB		5.00%		11/15/2037		2,465	2,485,965
Buffalo & Erie County Industrial Land Development Corp. (Tapestry Charter School);
Series 2017 A, RB		5.00%		08/01/2037		500	507,139
Series 2017 A, RB		5.00%		08/01/2047		1,500	1,505,144
Build NYC Resource Corp. (Children’s Aid Society (The));
Series 2019, RB		4.00%		07/01/2044		45	43,560
Series 2019, RB		4.00%		07/01/2049		1,300	1,238,594
Build NYC Resource Corp. (Grand Concourse Academy Charter School); Series 2022 A, RB		5.00%		07/01/2056		100	101,035
Build NYC Resource Corp. (KIPP NYC Public School) (Social Bonds); Series 2023, RB		5.25%		07/01/2062		1,000	1,037,394
Build NYC Resource Corp. (Pratt Paper, Inc.); Series 2014, Ref. RB (e)(f)		5.00%		01/01/2035		2,700	2,708,965
Build NYC Resource Corp. (The Children’s Aid Society); Series 2015, RB		5.00%		07/01/2045		2,840	2,850,854
Build NYC Resource Corp. (Whin Music Community Charter School); Series 2022, RB (Acquired 06/23/2022; Cost $1,355,000) (c)(e)		6.50%		07/01/2057		1,355	1,368,062
Dutchess County Local Development Corp. (Marist College); Series 2022, RB		4.00%		07/01/2049		600	553,438
Dutchess County Local Development Corp. (Social Bonds); Series 2023, RB (CEP - FNMA)		5.00%		10/01/2040		420	446,685
Erie Tobacco Asset Securitization Corp.; Series 2005 A, RB		5.00%		06/01/2045		3,225	3,004,032
Genesee County Funding Corp. (The) (Rochester Regional Health Obligated Group); Series 2022 A, Ref. RB		5.25%		12/01/2052		725	756,781
Hudson Yards Infrastructure Corp.; Series 2017 A, Ref. RB (INS - AGM) (g)		4.00%		02/15/2047		1,425	1,397,390
Jefferson Civic Facility Development Corp. (Samaritan Medical Center); Series 2017 A, Ref. RB		4.00%		11/01/2047		1,245	909,573
Long Island (City of), NY Power Authority; Series 2017, RB		5.00%		09/01/2047		1,000	1,038,598
Long Island (City of), NY Power Authority (Green Bonds);
Series 2023 E, RB		5.00%		09/01/2048		500	547,543
Series 2023 E, RB		5.00%		09/01/2053		1,000	1,088,022
Metropolitan Transportation Authority;
Series 2016 C-1, RB		5.25%		11/15/2056		150	152,793
Series 2017 D, Ref. RB		4.00%		11/15/2042		2,950	2,912,612
Metropolitan Transportation Authority (Green Bonds);
Series 2017 A-1, RB		5.25%		11/15/2057		3,975	4,108,386
Series 2017 B-1, RB		5.25%		11/15/2057		2,065	2,147,061
Series 2017 C-2, Ref. RB (d)		0.00%		11/15/2040		8,250	4,138,330
Monroe County Industrial Development Corp. (St. Ann’s Community); Series 2019, Ref. RB		5.00%		01/01/2050		850	733,044
Monroe County Industrial Development Corp. (St. John Fisher College);
Series 2014 A, RB (h)(i)		5.50%		09/22/2024		1,000	1,001,268
Series 2024, Ref. RB		5.25%		06/01/2049		35	38,468
Series 2024, Ref. RB		5.25%		06/01/2054		100	108,584
MTA Hudson Rail Yards Trust Obligations;
Series 2016 A, RB		5.00%		11/15/2051		3,110	3,114,225
Series 2016 A, RB		5.00%		11/15/2056		8,000	8,010,019
Nassau (County of), NY; Series 2024 A, GO Bonds		4.00%		04/01/2054		250	243,674
Nassau (County of), NY Industrial Development Agency (Amsterdam at Harborside);
Series 2021, RB (Acquired 12/14/2007-02/28/2018; Cost $1,420,984) (b)(c)		5.00%		01/01/2058		1,219	365,151
Series 2021, Ref. RB (Acquired 09/07/2021; Cost $600,000) (b)(c)(e)		9.00%		01/01/2041		600	600,000
Nassau County Local Economic Assistance Corp. (Catholic Health Services of Long Island Obligated Group); Series 2014, RB		5.00%		07/01/2033		1,000	1,000,583
Nassau County Tobacco Settlement Corp.; Series 2006 A-3, RB		5.00%		06/01/2035		1,250	1,171,323

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


4		Invesco Trust for Investment Grade New York Municipals


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-(continued)
New York & New Jersey (States of) Port Authority;
Series 2014-186, Ref. RB (f)		5.00%		10/15/2044	$	2,000	$ 2,002,711
Series 2024, Ref. RB		5.00%		07/15/2054		500	548,831
Two Hundred Thirty-First Series 2022, Ref. RB (f)		5.50%		08/01/2047		8,000	8,745,373
Two Hundred Twenty Third Series 2021, Ref. RB (f)		4.00%		07/15/2051		360	336,239
Two Hundredth Series 2017, Ref. RB		5.25%		10/15/2057		6,880	7,139,333
New York (City of), NY;
Series 2018 E-1, GO Bonds		5.25%		03/01/2035		1,000	1,069,971
Series 2020 D-1, GO Bonds		4.00%		03/01/2050		12,100	11,828,446
Series 2021 A-1, GO Bonds		4.00%		08/01/2050		500	488,662
Series 2024 C, GO Bonds		5.25%		03/01/2053		1,500	1,656,438
Subseries 2010 G-4, VRD GO Bonds (j)		2.80%		03/01/2039		2,000	2,000,000
Subseries 2019 D-1, GO Bonds		5.00%		12/01/2037		2,000	2,135,594
Subseries 2022 D-1, GO Bonds (k)		5.25%		05/01/2043		1,700	1,885,438
New York (City of), NY Industrial Development Agency (Yankee Stadium);
Series 2020, Ref. RB		4.00%		03/01/2045		500	481,119
Series 2020, Ref. RB (INS - AGM) (g)		4.00%		03/01/2045		4,240	4,153,656
Series 2020, Ref. RB (INS - AGM) (g)		3.00%		03/01/2049		300	233,473
New York (City of), NY Municipal Water Finance Authority;
Series 2017 DD, RB		5.25%		06/15/2047		3,600	3,747,416
Series 2020 AA-2, RB		4.00%		06/15/2043		3,500	3,506,869
Series 2020, Ref. RB		5.00%		06/15/2050		500	532,557
Series 2021 CC-1, RB		4.00%		06/15/2051		9,000	8,823,670
New York (City of), NY Transitional Finance Authority;
Series 2018 C-3, RB		4.00%		05/01/2045		2,565	2,529,650
Series 2018 S-3, RB		5.00%		07/15/2043		2,115	2,219,335
Series 2018 S-3, RB		5.25%		07/15/2045		690	731,073
Series 2019 C, RB (k)		4.00%		11/01/2042		8,000	8,009,372
Series 2019, RB		4.00%		11/01/2042		5,675	5,681,648
Series 2020 C-1, RB		4.00%		05/01/2045		2,565	2,548,475
Series 2020, RB		4.00%		05/01/2046		2,000	1,981,633
Series 2021 B-1, RB		4.00%		08/01/2042		1,000	1,003,944
Series 2023 A, RB		4.00%		05/01/2045		2,000	1,987,115
Series 2024, RB		4.13%		05/01/2052		1,000	993,085
Series 2024, RB		5.00%		05/01/2052		1,000	1,088,302
Subseries 2016 F-3, RB		3.25%		02/01/2041		1,535	1,423,455
New York (State of) Dormitory Authority;
Series 2009 C, RB (INS - AGC) (g)		5.00%		10/01/2024		35	35,044
Series 2011, RB		5.00%		10/01/2025		20	20,033
Series 2013 A, RB (h)(i)		5.00%		11/25/2024		680	682,873
Series 2015 A, Ref. RB (k)		5.00%		07/01/2048		10,000	10,112,586
Series 2018, RB		5.00%		07/01/2048		855	884,952
Series 2020 A, Ref. RB		4.00%		03/15/2048		3,000	2,956,178
Series 2020 D, Ref. RB		4.00%		02/15/2047		300	295,483
Series 2022, RB (k)		4.00%		03/15/2049		6,500	6,405,278
Series 2024 A, RB		5.50%		05/01/2049		50	55,021
Series 2024 A, RB		5.00%		03/15/2054		500	544,734
Series 2024 A, RB		5.50%		05/01/2056		150	164,185
New York (State of) Dormitory Authority (Barnard College); Series 2015 A, Ref. RB		5.00%		07/01/2043		1,000	1,005,888
New York (State of) Dormitory Authority (Catholic Health System Obligated Group); Series 2019 A, Ref. RB		4.00%		07/01/2045		1,750	1,421,163
New York (State of) Dormitory Authority (City of New York);
Series 2005 A, RB (INS - AMBAC) (g)		5.50%		05/15/2027		700	751,847
Series 2005 A, RB (INS - AMBAC) (g)		5.50%		05/15/2030		1,750	2,005,968
Series 2005 A, RB (INS - AMBAC) (g)		5.50%		05/15/2031		445	518,272
New York (State of) Dormitory Authority (Columbia University); Series 2018 A, RB		5.00%		10/01/2048		1,000	1,219,570
New York (State of) Dormitory Authority (Fashion Institute of Technology Student Housing Corp.); Series 2007, RB (INS - NATL) (g)		5.25%		07/01/2028		2,065	2,138,770

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


5		Invesco Trust for Investment Grade New York Municipals


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-(continued)
New York (State of) Dormitory Authority (Icahn School of Medicine at Mount Sinai); Series 2015, Ref. RB		5.00%		07/01/2045	$	2,835	$ 2,838,890
New York (State of) Dormitory Authority (Montefiore Obligated Group); Series 2018 A, Ref. RB		5.00%		08/01/2030		2,000	2,080,679
New York (State of) Dormitory Authority (New School (The)); Series 2022 A, Ref. RB		4.00%		07/01/2047		235	228,633
New York (State of) Dormitory Authority (New York University);
Series 2001-1, RB (INS - BHAC) (g)		5.50%		07/01/2031		1,115	1,247,775
Series 2001-1, RB (INS - AMBAC) (g)		5.50%		07/01/2031		2,500	2,797,701
New York (State of) Dormitory Authority (Orange Regional Medical Center);
Series 2015, Ref. RB (e)		5.00%		12/01/2045		1,075	1,009,254
Series 2017, Ref. RB (e)		5.00%		12/01/2036		900	885,614
Series 2017, Ref. RB (e)		5.00%		12/01/2037		1,500	1,467,936
New York (State of) Dormitory Authority (Pace University);
Series 2013 A, RB (h)(i)		5.00%		11/25/2024		1,120	1,124,732
Series 2013 A, RB (h)(i)		5.00%		11/25/2024		1,270	1,275,366
New York (State of) Dormitory Authority (Rochester Institute of Technology);
Series 2019 A, RB		4.00%		07/01/2044		1,985	1,952,899
Series 2019 A, RB		5.00%		07/01/2049		1,410	1,471,911
New York (State of) Dormitory Authority (Wagner College); Series 2022, Ref. RB		5.00%		07/01/2057		2,280	2,217,827
New York (State of) Dormitory Authority (Yeshiva University); Series 2022 A, Ref. RB		5.00%		07/15/2050		1,000	1,017,286
New York (State of) Housing Finance Agency; Series 2023 E-1, RB		4.95%		11/01/2058		1,415	1,448,142
New York (State of) Mortgage Agency (Social Bonds);
Series 2023 252, RB		4.45%		10/01/2043		75	76,002
Series 2023 252, RB		4.55%		10/01/2048		125	125,733
Series 2023 252, RB		4.65%		10/01/2053		150	151,003
New York (State of) Power Authority (Green Bonds); Series 2020 A, Ref. RB		4.00%		11/15/2060		3,300	3,211,715
New York (State of) Power Authority (Green Transmission) (Green Bonds);
Series 2022, RB (INS - AGM) (g)		4.00%		11/15/2061		4,000	3,869,613
Series 2023, RB (INS - AGM) (g)		5.13%		11/15/2063		1,380	1,524,939
New York (State of) Thruway Authority;
Series 2019 B, RB		4.00%		01/01/2050		2,000	1,943,093
Series 2020 N, RB		5.00%		01/01/2040		2,000	2,173,496
New York (State of) Utility Debt Securitization Authority (Green Bonds);
Series 2022, Ref. RB		5.00%		12/15/2049		550	603,348
Series 2022, Ref. RB		5.00%		09/15/2052		250	273,291
New York City Housing Development Corp. (Sustainable Development Bonds); Series 2023, RB		4.80%		02/01/2053		1,620	1,639,125
New York Convention Center Development Corp. (Hotel Unit Fee Secured);
Series 2015, Ref. RB		5.00%		11/15/2040		1,965	1,987,075
Series 2016 B, RB (d)		0.00%		11/15/2044		1,730	660,204
Series 2016, RB (d)		0.00%		11/15/2056		5,000	980,775
New York Counties Tobacco Trust IV; Series 2010 A, RB (e)		6.25%		06/01/2041		870	870,126
New York Counties Tobacco Trust V;
Series 2005 S-1, RB (d)		0.00%		06/01/2038		8,430	3,740,592
Series 2005 S-2, RB (d)		0.00%		06/01/2050		14,850	2,386,763
New York Liberty Development Corp. (3 World Trade Center);
Series 2014, Class 1, Ref. RB (e)		5.00%		11/15/2044		4,895	4,899,098
Series 2014, Class 3, Ref. RB (e)		7.25%		11/15/2044		1,085	1,088,345
New York Liberty Development Corp. (Bank of America Tower at One Bryant Park); Series 2019, Ref. RB		2.80%		09/15/2069		2,785	2,565,185
New York Liberty Development Corp. (Goldman Sachs Headquarters); Series 2007, RB		5.50%		10/01/2037		2,845	3,413,946
New York Liberty Development Corp. (Green Bonds);
Series 2021 A, Ref. RB		2.75%		11/15/2041		925	731,390
Series 2021 A, Ref. RB		2.88%		11/15/2046		3,325	2,492,463
New York State Environmental Facilities Corp. (New York City Municipal Water Finance Authority Projects - 2nd Resolution Bonds); Series 2017 E, RB		5.00%		06/15/2042		575	598,246
New York State Urban Development Corp.; Series 2020 C, Ref. RB		5.00%		03/15/2050		1,410	1,497,837
New York State Urban Development Corp. (Bidding Group 3);
Series 2021, Ref. RB		4.00%		03/15/2044		615	612,209
Series 2021, Ref. RB		4.00%		03/15/2046		1,320	1,301,836
Series 2021, Ref. RB (k)		4.00%		03/15/2046		9,000	8,876,152
New York State Urban Development Corp. (Bidding Group 4); Series 2020 E, Ref. RB		4.00%		03/15/2046		2,500	2,471,041

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


6		Invesco Trust for Investment Grade New York Municipals


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-(continued)
New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport);
Series 2023, RB (f)		5.38%		06/30/2060	$	1,500	$ 1,565,274
Series 2024, RB (f)		5.50%		06/30/2054		700	750,839
Series 2024, RB (INS - AGM) (f)(g)		5.25%		06/30/2060		250	265,329
New York Transportation Development Corp. (American Airlines, Inc.);
Series 2016, Ref. RB (f)		5.00%		08/01/2026		1,015	1,016,542
Series 2016, Ref. RB (f)		5.00%		08/01/2031		800	800,900
New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D Redevelopment);
Series 2018, RB (f)		5.00%		01/01/2034		805	830,473
Series 2018, RB (f)		5.00%		01/01/2036		5,455	5,609,415
New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment);
Series 2016 A, RB (f)		5.00%		07/01/2041		2,500	2,499,889
Series 2016 A, RB (f)(k)(l)		5.00%		07/01/2046		7,000	6,999,727
New York Transportation Development Corp. (Terminal 4 JFK International Airport);
Series 2020 A, Ref. RB (f)		5.00%		12/01/2031		200	215,191
Series 2022, RB (f)		5.00%		12/01/2041		2,000	2,105,900
Niagara Area Development Corp. (Catholic Health System, Inc.); Series 2022, RB		5.00%		07/01/2052		450	413,304
Niagara Area Development Corp. (Covanta); Series 2018 A, Ref. RB (e)(f)		4.75%		11/01/2042		1,820	1,745,024
Niagara Frontier Transportation Authority (Buffalo Niagara International Airport); Series 2014 A, Ref. RB (f)		5.00%		04/01/2028		1,000	1,000,510
Niagara Tobacco Asset Securitization Corp.; Series 2014, Ref. RB		5.25%		05/15/2040		1,725	1,725,052
Oneida County Local Development Corp. (Mohawk Valley Health System); Series 2019, Ref. RB (INS - AGM) (g)		4.00%		12/01/2049		2,000	1,916,148
Oneida County Local Development Corp. (Utica College); Series 2019, Ref. RB		4.00%		07/01/2039		150	132,608
Onondaga (County of), NY Trust for Cultural Resources (Syracuse University); Series 2019, Ref. RB		4.00%		12/01/2049		4,260	4,169,930
Rockland Tobacco Asset Securitization Corp.;
Series 2001, RB		5.75%		08/15/2043		1,375	1,393,281
Series 2005 A, RB (d)(e)		0.00%		08/15/2045		7,890	2,345,981
Series 2005 C, RB (d)(e)		0.00%		08/15/2060		96,000	6,517,133
Suffolk County Economic Development Corp. (Catholic Health Services); Series 2014 C, RB		5.00%		07/01/2032		1,085	1,086,102
Suffolk Regional Off-Track Betting Co.;
Series 2024, RB		5.75%		12/01/2044		500	523,433
Series 2024, RB		6.00%		12/01/2053		500	525,500
Suffolk Tobacco Asset Securitization Corp.; Series 2021, Ref. RB		4.00%		06/01/2050		915	914,807
Tompkins County Development Corp. (Tompkins Cortland Community College Foundation, Inc.);
Series 2013 A, RB (b)		5.00%		07/01/2027		1,000	300,000
Series 2013 A, RB (b)		5.00%		07/01/2032		750	225,000
Series 2013 A, RB (b)		5.00%		07/01/2038		2,000	600,000
Triborough Bridge & Tunnel Authority;
Series 2013 A, Ref. RB (d)		0.00%		11/15/2032		2,000	1,506,902
Subseries 2021 B-1, Ref. RB		4.00%		05/15/2056		1,000	976,560
Triborough Bridge & Tunnel Authority (Green Bonds); Series 2022 D-2, RB		5.25%		05/15/2047		5,545	6,132,120
Triborough Bridge & Tunnel Authority (MTA Brdiges & Tunnels) (Green Bonds); Subseries 2022 D-2, RB		5.50%		05/15/2052		350	390,156
Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels);
Series 2020 A, RB		5.00%		11/15/2054		3,120	3,304,921
Series 2022, RB (k)		5.25%		05/15/2062		8,000	8,708,475
Triborough Bridge & Tunnel Authority( MTA Brdiges & Tunnels); Series 2023 A, RB (k)		4.25%		05/15/2058		10,000	10,011,692
TSASC, Inc.;
Series 2016 B, Ref. RB		5.00%		06/01/2045		2,070	1,873,816
Series 2017 A, Ref. RB		5.00%		06/01/2036		2,885	2,976,216
Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities); Series 2017 A, RB (e)(f)		7.00%		06/01/2046		1,030	1,059,024
Westchester County Local Development Corp.; Series 2014 A, RB (h)(i)		5.50%		11/25/2024		100	100,535
Westchester County Local Development Corp. (Betheal Methodist);
Series 2020 A, Ref. RB		5.00%		07/01/2040		150	132,138
Series 2020 A, Ref. RB		5.13%		07/01/2055		520	430,014
Westchester County Local Development Corp. (Kendal on Hudson); Series 2022, Ref. RB		4.25%		01/01/2045		420	412,125

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


7		Invesco Trust for Investment Grade New York Municipals


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-(continued)
Westchester County Local Development Corp. (Purchase Senior Learning Community, Inc.);
Series 2021, Ref. RB (e)		5.00%		07/01/2046	$	350	$	353,402


Series 2021, Ref. RB (e)		4.50%		07/01/2056		600		552,422


Series 2021, Ref. RB (e)		5.00%		07/01/2056		200		199,985


Westchester County Local Development Corp. (Westchester Medical Center Obligated Group);
Series 2023, RB (INS - AGM) (g)		5.75%		11/01/2048		150		170,515


Series 2023, RB (INS - AGM) (g)		5.75%		11/01/2053		1,250		1,409,827


Westchester Tobacco Asset Securitization Corp.;
Series 2016 C, Ref. RB		5.00%		06/01/2045		575		563,258


Series 2016 C, Ref. RB		5.13%		06/01/2051		2,705		2,652,667


Western Regional Off-Track Betting Corp.; Series 2021, Ref. RB (e)		4.13%		12/01/2041		275		252,469


								356,837,352



Puerto Rico-2.64%
Children’s Trust Fund;
Series 2002, RB		5.50%		05/15/2039		605		608,128


Series 2002, RB		5.63%		05/15/2043		145		146,684


Series 2005 A, RB (d)		0.00%		05/15/2050		3,000		579,642


Puerto Rico (Commonwealth of); Series 2021 A-1, GO Bonds		4.00%		07/01/2046		1,125		1,044,601


Puerto Rico (Commonwealth of) Electric Power Authority; Series 2007 VV, Ref. RB (Acquired 07/19/2018; Cost $518,497) (INS - NATL) (c)(g)		5.25%		07/01/2030		500		491,602


Puerto Rico Sales Tax Financing Corp.;
Series 2018 A-1, RB (d)		0.00%		07/01/2029		565		470,863


Series 2018 A-1, RB (d)		0.00%		07/01/2031		650		499,121


Series 2018 A-1, RB (d)		0.00%		07/01/2046		1,000		337,193


Series 2018 A-1, RB		5.00%		07/01/2058		2,000		2,008,845


								6,186,679



Virgin Islands-0.30%
Virgin Islands (Government of) Port Authority; Series 2014 B, Ref. RB		5.00%		09/01/2044		785		719,662


TOTAL INVESTMENTS IN SECURITIES (m) -155.09% (Cost $362,563,803)								363,743,693


FLOATING RATE NOTE OBLIGATIONS-(17.55)%
Notes with interest and fee rates ranging from 3.47% to 3.48% at 08/31/2024 and contractual maturities of collateral ranging from 11/01/2042 to 05/15/2062 (See Note 1J) (n)								(41,155,000	)


VARIABLE RATE MUNI TERM PREFERRED SHARES–(38.51)%								(90,315,752	)


OTHER ASSETS LESS LIABILITIES–0.97%								2,259,552


NET ASSETS APPLICABLE TO COMMON SHARES–100.00%							$	234,532,493

Investment Abbreviations:


AGC		- Assured Guaranty Corp.
AGM		- Assured Guaranty Municipal Corp.
AMBAC		- American Municipal Bond Assurance Corp.
BHAC		- Berkshire Hathaway Assurance Corp.
CEP		- Credit Enhancement Provider
FNMA		- Federal National Mortgage Association
GO		- General Obligation
INS		- Insurer
NATL		- National Public Finance Guarantee Corp.
RB		- Revenue Bonds
Ref.		- Refunding
VRD		- Variable Rate Demand

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


8		Invesco Trust for Investment Grade New York Municipals

Notes to Schedule of Investments:

(a)	Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Trust’s use of leverage.

(b)	Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at August 31, 2024 was $2,409,419, which represented 1.03% of the Trust’s Net Assets.

(c)	Restricted security. The aggregate value of these securities at August 31, 2024 was $3,144,083, which represented 1.34% of the Trust’s Net Assets.

(d)	Zero coupon bond issued at a discount.

(e)

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2024 was $27,922,840, which represented 11.91% of the Trust’s Net Assets.

(f)	Security subject to the alternative minimum tax.

(g)	Principal and/or interest payments are secured by the bond insurance company listed.

(h)	Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.

(i)	Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.

(j)	Demand security payable upon demand by the Trust at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2024.

(k)	Underlying security related to TOB Trusts entered into by the Trust. See Note 1J.

(l)

Security is subject to a reimbursement agreement which may require the Trust to pay amounts to a counterparty in the event of a significant decline in the market value of the security underlying the TOB Trusts. In case of a shortfall, the maximum potential amount of payments the Trust could ultimately be required to make under the agreement is $4,670,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts.

(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

(n)

Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at August 31, 2024. At August 31, 2024, the Trust’s investments with a value of $61,008,720 are held by TOB Trusts and serve as collateral for the $41,155,000 in the floating rate note obligations outstanding at that date.

Portfolio Composition

By credit sector, based on total investments

As of August 31, 2024


Revenue Bonds	92.70	%
General Obligation Bonds	5.60
Pre-Refunded Bonds	1.15
Other	0.55

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


9		Invesco Trust for Investment Grade New York Municipals

Statement of Assets and Liabilities

August 31, 2024

(Unaudited)


Assets:
Investments in unaffiliated securities, at value (Cost $362,563,803)	$	363,743,693


Receivable for:
Interest		3,734,720


Investment for trustee deferred compensation and retirement plans		13,490


Total assets		367,491,903



Liabilities:
Floating rate note obligations		41,155,000


Variable rate muni term preferred shares ($0.01 par value, 904 shares issued with liquidation preference of $100,000 per share)		90,315,752


Payable for:
Dividends		67,978


Amount due custodian		768,711


Accrued fees to affiliates		22,022


Accrued interest expense		338,079


Accrued trustees’ and officers’ fees and benefits		560


Accrued other operating expenses		276,169


Trustee deferred compensation and retirement plans		15,139


Total liabilities		132,959,410


Net assets applicable to common shares	$	234,532,493


Net assets applicable to common shares consist of:
Shares of beneficial interest – common shares	$	263,157,856


Distributable earnings (loss)		(28,625,363	)


	$	234,532,493



Common shares outstanding, no par value, with an unlimited number of common shares authorized:
Common shares outstanding		19,477,753


Net asset value per common share	$	12.04


Market value per common share	$	11.41

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


10		Invesco Trust for Investment Grade New York Municipals

Statement of Operations

For the six months ended August 31, 2024

(Unaudited)


Investment income:
Interest	$	8,022,942



Expenses:
Advisory fees		1,015,542


Administrative services fees		17,538


Custodian fees		2,917


Interest, facilities and maintenance fees		2,953,945


Transfer agent fees		11,336


Trustees’ and officers’ fees and benefits		11,414


Registration and filing fees		11,948


Reports to shareholders		141,489


Professional services fees		91,064


Other		621


Total expenses		4,257,814


Net investment income		3,765,128



Realized and unrealized gain (loss) from:
Net realized gain (loss) from unaffiliated investment securities		(966,290	)


Change in net unrealized appreciation of unaffiliated investment securities		2,256,602


Net realized and unrealized gain		1,290,312


Net increase in net assets resulting from operations applicable to common shares	$	5,055,440

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


11		Invesco Trust for Investment Grade New York Municipals

Statement of Changes in Net Assets

For the six months ended August 31, 2024 and the year ended February 29, 2024

(Unaudited)


	August 31, 2024			February 29, 2024


Operations:
Net investment income	$	3,765,128		$	7,518,232


Net realized gain (loss)		(966,290	)		(7,041,491	)


Change in net unrealized appreciation		2,256,602			15,918,101


Net increase in net assets resulting from operations applicable to common shares		5,055,440			16,394,842


Distributions to common shareholders from distributable earnings		(6,304,949	)		(7,330,295	)


Return of capital applicable to common shares		–			(458,858	)


Total distributions		(6,304,949	)		(7,789,153	)


Net increase (decrease) in net assets applicable to common shares		(1,249,509	)		8,605,689



Net assets applicable to common shares:
Beginning of period		235,782,002			227,176,313


End of period	$	234,532,493		$	235,782,002

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


12		Invesco Trust for Investment Grade New York Municipals

Statement of Cash Flows

For the six months ended August 31, 2024

(Unaudited)


Cash provided by operating activities:
Net increase in net assets resulting from operations applicable to common shares	$	5,055,440



Adjustments to reconcile the change in net assets applicable to common shares from operations to net cash provided by operating activities:
Purchases of investments		(17,900,519	)


Proceeds from sales of investments		19,529,337


Purchases of short-term investments, net		(1,999,999	)


Amortization (accretion) of premiums and discounts, net		(319,457	)


Net realized loss from investment securities		966,290


Net change in unrealized appreciation on investment securities		(2,256,602	)


Change in operating assets and liabilities:


Decrease in receivables and other assets		48,547


Increase in accrued expenses and other payables		144,657


Net cash provided by operating activities		3,267,694


Cash provided by (used in) financing activities:
Increase in payable for amount due custodian		768,711


Dividends paid to common shareholders from distributable earnings		(6,266,905	)


Proceeds from TOB Trusts		(830,000	)


Net cash provided by (used in) financing activities		(6,328,194	)


Net decrease in cash and cash equivalents		(3,060,500	)


Cash and cash equivalents at beginning of period		3,060,500


Cash and cash equivalents at end of period	$	–



Supplemental disclosure of cash flow information:


Cash paid during the period for interest, facilities and maintenance fees	$	2,933,568

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


13		Invesco Trust for Investment Grade New York Municipals

Financial Highlights

August 31, 2024

(Unaudited)

The following schedule presents financial highlights for a share of the Trust outstanding throughout the periods indicated:


	Six Months Ended			Year Ended			Years Ended								Year Ended
	August 31,			February 29,			February 28,								February 29,
	2024			2024			2023			2022			2021		2020


Net asset value per common share, beginning of period		$ 12.11			$ 11.66			$ 13.67			$ 14.22			$ 15.03		$ 13.90


Net investment income (a)		0.19			0.39			0.45			0.55			0.58		0.57


Net gains (losses) on securities (both realized and unrealized)		0.06			0.46			(1.97)			(0.53)			(0.84)		1.16


Total from investment operations		0.25			0.85			(1.52)			0.02			(0.26)		1.73


Less:
Dividends paid to common shareholders from net investment income		(0.32	)		(0.38)			(0.46)			(0.57)			(0.55)		(0.56)


Return of capital		-			(0.02)			(0.03)			-			-		(0.04)


Total distributions		(0.32	)		(0.40)			(0.49)			(0.57)			(0.55)		(0.60)


Net asset value per common share, end of period		$ 12.04			$ 12.11			$ 11.66			$ 13.67			$ 14.22		$ 15.03


Market value per common share, end of period		$ 11.41			$ 10.53			$ 10.09			$ 12.21			$ 13.00		$ 13.58


Total return at net asset value (b)		2.37	%		8.08	%		(10.65)	%		0.30	%		(1.13)%		13.00%


Total return at market value (c)		11.57	%		8.61	%		(13.43)	%		(2.00)	%		0.03%		9.50%


Net assets applicable to common shares, end of period (000’s omitted)		$234,532			$235,782			$227,176			$266,293			$276,922		$292,817


Portfolio turnover rate (d)		5	%		26	%		23	%		1	%		14%		12%



Ratios/supplemental data based on average net assets applicable to common shares outstanding:
Ratio of expenses:


With fee waivers and/or expense reimbursements		3.62%	(e)		3.44	%		2.56	%		1.48	%		1.79%		2.45%


With fee waivers and/or expense reimbursements excluding interest, facilities and maintenance fees		1.11%	(e)		0.97	%		0.98	%		0.95	%		0.98%		1.00%


Without fee waivers and/or expense reimbursements		3.62%	(e)		3.44	%		2.56	%		1.48	%		1.79%		2.45%


Ratio of net investment income to average net assets		3.20%	(e)		3.30	%		3.79	%		3.79	%		4.15%		3.93%



Senior securities:
Total amount of preferred shares outstanding (000’s omitted)		$ 90,400			$ 90,400			$ 90,400			$ 90,400			$ 90,400		$ 90,400


Asset coverage per preferred share (f)		$359,439			$360,821			$351,301			$394,572			$406,330		$423,912


Liquidating preference per preferred share		$100,000			$100,000			$100,000			$100,000			$100,000		$100,000

(a)	Calculated using average shares outstanding.

(b)

Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.

(c)

Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Trust’s dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated. Not annualized for periods less than one year, if applicable.

(d)	Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

(e)	Annualized.

(f)	Calculated by subtracting the Trust’s total liabilities (not including preferred shares, at liquidation value) from the Trust’s total assets and dividing this by the total number of preferred shares outstanding.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


14		Invesco Trust for Investment Grade New York Municipals

Notes to Financial Statements

August 31, 2024

(Unaudited)

NOTE 1–Significant Accounting Policies

Invesco Trust for Investment Grade New York Municipals (the “Trust”) is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a

closed-end

management investment company.

The Trust’s investment objective is to provide common shareholders with a high level of current income exempt from federal as well as from New York State and New York City income taxes, consistent with preservation of capital.

The Trust is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 946,

Financial Services – Investment Companies.

The following is a summary of the significant accounting policies followed by the Trust in the preparation of its financial statements.

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

Securities generally are valued on the basis of prices provided by independent pricing services. Prices 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, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a trust may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the “Adviser” or “Invesco”) in accordance with Board-approved policies and related Adviser procedures (“Valuation Procedures”). If a fair value price provided by a pricing service is not representative of market value in the Adviser’s judgment (“unreliable”), the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security’s fair value.

The Trust may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Trust investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism, significant governmental actions or adverse investor sentiment generally 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.

The price the Trust could receive upon the sale of any investment may differ from the Adviser’s valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Trust securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Trust could realize a greater or lesser than expected gain or loss upon the sale of the investment.

Securities Transactions and Investment Income

- Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

Pay-in-kind

interest income and

non-cash

dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the

ex-dividend

date.

The Trust may periodically participate in litigation related to Trust investments. As such, the Trust may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Trust’s net asset value and, accordingly, they reduce the Trust’s total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Trust and the investment adviser.

Country Determination

- For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer’s securities and its “country of risk” as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

D.	Distributions - The Trust declares and pays monthly dividends from net investment income to common shareholders. Distributions from net realized capital gain, if any, are generally declared and paid annually and are distributed on a pro rata basis to common and preferred shareholders.

Federal Income Taxes -

The Trust intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), necessary to qualify as a regulated investment company and to distribute substantially all of the Trust’s taxable earnings to shareholders. As such, the Trust will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Trust recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Trust’s uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.


15		Invesco Trust for Investment Grade New York Municipals

In addition, the Trust intends to invest in such municipal securities to allow it to qualify to pay shareholders “exempt dividends”, as defined in the Internal Revenue Code.

The Trust files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Trust is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

Interest, Facilities and Maintenance Fees

- Interest, Facilities and Maintenance Fees include interest and related borrowing costs such as commitment fees, rating and bank agent fees, administrative expenses and other expenses associated with establishing and maintaining the line of credit and Variable Rate Muni Term Preferred Shares (“VMTP Shares”). In addition, interest and administrative expenses related to establishing and maintaining floating rate note obligations, if any, are included.

Accounting Estimates -

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Trust monitors for material events or transactions that may occur or become known after the

period-end

date and before the date the financial statements are released to print.

Indemnifications

- Under the Trust’s organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts, including the Trust’s servicing agreements, that contain a variety of indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

I.	Cash and Cash Equivalents - For the purposes of the Statement of Cash Flows, the Trust defines Cash and Cash Equivalents as cash (including foreign currency), restricted cash, money market funds and other investments held in lieu of cash and excludes investments made with cash collateral received.

Floating Rate Note Obligations

- The Trust invests in inverse floating rate securities, such as Tender Option Bonds (“TOBs”), for investment purposes and to enhance the yield of the Trust. Such securities may be purchased in the secondary market without first owning an underlying bond but generally are created through the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer or by the Trust (“TOB Trusts”) in exchange for cash and residual interests in the TOB Trusts’ assets and cash flows, which are in the form of inverse floating rate securities. The TOB Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interests in the bonds. The floating rate notes issued by the TOB Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the TOB Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate securities) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the TOB Trust to the Trust, thereby collapsing the TOB Trust. Inverse floating rate securities tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable.

The Trust generally invests in inverse floating rate securities that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The primary risks associated with inverse floating rate securities are varying degrees of liquidity and decreases in the value of such securities in response to changes in interest rates to a greater extent than fixed rate securities having similar credit quality, redemption provisions and maturity, which may cause the Trust’s net asset value to be more volatile than if it had not invested in inverse floating rate securities. In certain instances, the short-term floating rate notes created by the TOB Trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such notes for repayment of principal, may not be able to be remarketed to third parties. In such cases, the TOB Trust holding the fixed rate bonds may be collapsed with the entity that contributed the fixed rate bonds to the TOB Trust. In the case where a TOB Trust is collapsed with the Trust, the Trust will be required to repay the principal amount of the tendered securities, which may require the Trust to sell other portfolio holdings to raise cash to meet that obligation. The Trust could therefore be required to sell other portfolio holdings at a disadvantageous time or price to raise cash to meet this obligation, which risk will be heightened during times of market volatility, illiquidity or uncertainty. The embedded leverage in the TOB Trust could cause the Trust to lose more money than the value of the asset it has contributed to the TOB Trust and greater levels of leverage create the potential for greater losses. In addition, a Trust may enter into reimbursement agreements with the liquidity provider of certain TOB transactions in connection with certain residuals held by the Trust. These agreements commit a Trust to reimburse the liquidity provider to the extent that the liquidity provider must provide cash to a TOB Trust, including following the termination of a TOB Trust resulting from a mandatory tender event (“liquidity shortfall”). The reimbursement agreement will effectively make the Trust liable for the amount of the negative difference, if any, between the liquidation value of the underlying security and the purchase price of the floating rate notes issued by the TOB Trust.

The Trust accounts for the transfer of fixed rate bonds to the TOB Trusts as secured borrowings, with the securities transferred remaining in the Trust’s investment assets, and the related floating rate notes reflected as Trust liabilities under the caption

Floating rate note obligations

on the Statement of Assets and Liabilities. The carrying amount of the Trust’s floating rate note obligations as reported on the Statement of Assets and Liabilities approximates its fair value. The Trust records the interest income from the fixed rate bonds under the caption Interest and records the expenses related to floating rate obligations and any administrative expenses of the TOB Trusts as a component of

Interest, facilities and maintenance fees

on the Statement of Operations.

Final rules implementing section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Volcker Rule”) prohibit banking entities and their affiliates from sponsoring and/or providing certain services for existing TOB Trusts, which constitute “covered funds” under the Volcker Rule. As a result of the Volcker Rule, the Trust, as holder of Inverse Floaters, is required to perform certain duties in connection with TOB financing transactions previously performed by banking entities. These duties may alternatively be performed by a

non-bank

third-party service provider. The Trust’s expanded role may increase its operational and regulatory risk.

Further, the SEC and various banking agencies have adopted rules implementing credit risk retention requirements for asset-backed securities (the “Risk Retention Rules”), which apply to TOB financing transactions and TOB Trusts. The Risk Retention Rules require the sponsor of a TOB Trust to retain at least 5% of the credit risk of the underlying security held by the TOB Trust. The Trust has adopted policies intended to comply with the Risk Retention Rules. The Risk Retention Rules may adversely affect the Trust’s ability to engage in TOB financing transactions or increase the costs of such transactions in certain circumstances.

There can be no assurances that TOB financing transactions will continue to be a viable or cost-effective form of leverage. The unavailability of TOB financing transactions or an increase in the cost of financing provided by TOB transactions may adversely affect the Trust’s net asset value, distribution rate and ability to achieve its investment objective.

TOBs are presently classified as private placement securities. Private placement securities are subject to restrictions on resale because they have not been registered under the Securities Act of 1933, as amended (the “1933 Act”), or are otherwise not readily marketable. As a result of the absence of a public trading market for these securities, they may be less liquid than publicly traded securities. Although atypical, these securities may be resold in privately negotiated transactions, the prices realized from these sales could be less than those originally paid by the Trust or less than what may be considered the fair value of such securities.

Other Risks

- The risk of a municipal obligation generally depends on the financial and credit status of the issuer. Constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives, and the issuer’s regional economic conditions may affect the municipal security’s value, interest payments, repayment of principal and the Trust’s ability to sell the security. Failure of a municipal security issuer to comply with applicable tax requirements may make income paid thereon taxable, resulting in a decline in the security’s value. In addition, there could be changes in applicable tax laws or tax


16		Invesco Trust for Investment Grade New York Municipals

treatments that reduce or eliminate the current federal income tax exemption on municipal securities or otherwise adversely affect the current federal or state tax status of municipal securities.

Increases in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility, perhaps suddenly and to a significant degree, and to reduced liquidity for certain fixed income investments, particularly those with longer maturities. Such changes and resulting increased volatility may adversely impact the Trust, including its operations, universe of potential investment options, and return potential. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Trust’s investments and share price may decline. Changes in central bank policies and other governmental actions and political events within the U.S. and abroad may also, among other things, affect investor and consumer expectations and confidence in the financial markets. This could result in higher than normal redemptions by shareholders, which could potentially increase the Trust’s portfolio turnover rate and transaction costs.

The municipal issuers in which the Trust invests may be located in the same geographic area or may pay their interest obligations from revenue of similar projects, such as hospitals, airports, utility systems and housing finance agencies. This may make the Trust’s investments more susceptible to similar social, economic, political or regulatory occurrences, making the Trust more susceptible to experience a drop in its share price than if the Trust had been more diversified across issuers that did not have similar characteristics.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Trust accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of 0.55% of the Trust’s average daily managed assets. Managed assets for this purpose means the Trust’s net assets, plus assets attributable to outstanding preferred shares and the amount of any borrowings incurred for the purpose of leverage (whether or not such borrowed amounts are reflected in the Trust’s financial statements for purposes of GAAP).

Under the terms of a master

sub-advisory

agreement between the Adviser and each of Invesco Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the “Affiliated

Sub-Advisers”)

the Adviser, not the Trust, will pay 40% of the fees paid to the Adviser to any such Affiliated

Sub-Adviser(s)

that provide(s) discretionary investment management services to the Trust based on the percentage of assets allocated to such Affiliated

Sub-Adviser(s).

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Trust has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Trust. For the six months ended August 31, 2024, expenses incurred under this agreement are shown in the Statement of Operations as Administrative services fees. Invesco has entered into a

sub-administration

agreement whereby State Street Bank and Trust Company (“SSB”) serves as fund accountant and provides certain administrative services to the Trust. Pursuant to a custody agreement with the Trust, SSB also serves as the Trust’s custodian.

Certain officers and trustees of the Trust are officers and directors of Invesco.

NOTE 3–Additional Valuation Information

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:


Level 1 –		Prices are determined using quoted prices in an active market for identical assets.
Level 2 –		Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When significant events due to market movements occur, foreign securities may be fair valued utilizing an independent pricing service.
Level 3 –		Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of August 31, 2024, all of the securities in this Trust were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. 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.

NOTE 4–Trustees’ and Officers’ Fees and Benefits

Trustees’ and Officers’ Fees and Benefits

include amounts accrued by the Trust to pay remuneration to certain Trustees and Officers of the Trust. Trustees have the option to defer compensation payable by the Trust, and “

Trustees’ and Officers’ Fees and Benefits

” includes amounts accrued by the Trust to fund such deferred compensation amounts.

NOTE 5–Cash Balances and Borrowings

The Trust is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at

period-end,

are shown in the Statement of Assets and Liabilities under the payable caption

Amount due custodian

. To compensate the custodian bank for such overdrafts, the overdrawn Trust may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

Inverse floating rate obligations resulting from the transfer of bonds to TOB Trusts are accounted for as secured borrowings. The average floating rate notes outstanding and average annual interest and fee rate related to inverse floating rate note obligations during the six months ended August 31, 2024 were $41,572,143 and 3.97%, respectively.

NOTE 6–Tax Information

The amount and character of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP. Reclassifications are made to the Trust’s capital accounts to reflect income and gains available for distribution (or available capital loss carryforward) under income tax regulations. The tax character of distributions paid during the year and the tax components of net assets will be reported at the Trust’s fiscal

year-end.


17		Invesco Trust for Investment Grade New York Municipals

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Trust to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Trust had a capital loss carryforward as of February 29, 2024, as follows:

Capital Loss Carryforward*

Expiration

Short-Term

Long-Term

Total

Not subject to expiration

$10,565,822

$16,144,500

$26,710,322

*	Capital loss carryforward is reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization.

NOTE 7–Investment Transactions

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Trust during the six months ended August 31, 2024 was $16,247,077 and $19,529,337, respectively. As of August 31, 2024, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting

period-end:


Unrealized Appreciation (Depreciation) of Investments on a Tax Basis
Aggregate unrealized appreciation of investments	$	11,531,205


Aggregate unrealized (depreciation) of investments		(9,931,134	)


Net unrealized appreciation of investments	$	1,600,071

Cost of investments for tax purposes is $ 362,143,622.

NOTE 8–Common Shares of Beneficial Interest

Transactions in common shares of beneficial interest were as follows:


	Six Months Ended August 31,		Year Ended February 29,
	2024		2024


Beginning shares		19,477,753		19,477,753


Shares issued through dividend reinvestment		-		-


Ending shares		19,477,753		19,477,753

The Trust may, when appropriate, purchase shares in the open market or in privately negotiated transactions at a price not above market value or net asset value, whichever is lower at the time of purchase.

NOTE 9–Variable Rate Muni Term Preferred Shares

The Trust issued Series

2015/6-VTN

VMTP Shares, with a liquidation preference of $100,000 per share, pursuant to an offering exempt from registration under the 1933 Act. As of August 31, 2024, the VMTP Shares outstanding were as follows:


Issue Date	Shares Issued	Term Redemption Date	Extension Date


05/09/2012	904	06/04/2029	12/01/2023

VMTP Shares are a variable-rate form of preferred shares with a mandatory redemption date, unless earlier redeemed, repurchased, or extended, and are considered debt for financial reporting purposes. VMTP Shares are subject to optional and mandatory redemption in certain circumstances. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends and a redemption premium, if any. Starting six months prior to the term redemption date, the Trust will be required to earmark assets having a value equal to 110% of the redemption amount.

The Trust incurs costs in connection with the issuance and/or the extension of the VMTP Shares. These costs are recorded as a deferred charge and are amortized over the term life of the VMTP Shares. Amortization of these costs is included in

Interest,

facilities and maintenance fees

on the Statement of Operations, and the unamortized balance is included in the value of

Variable rate muni term preferred shares

on the Statement of Assets and Liabilities.

Dividends paid on the VMTP Shares (which are treated as interest expense for financial reporting purposes) are declared daily and paid monthly. The initial rate for dividends was equal to the sum of 1.10% per annum plus the Securities Industry and Financial Markets Association Municipal Swap Index (the “SIFMA” Index). As of August 31, 2024, the dividend rate is equal to the SIFMA Index plus a spread of 1.15%, which is based on the long term preferred share ratings assigned to the VMTP Shares by a ratings agency. The average aggregate liquidation preference outstanding and the average annualized dividend rate of the VMTP Shares during the six months ended August 31, 2024 were $90,400,000 and 4.60%, respectively.

The Trust utilizes the VMTP Shares as leverage in order to enhance the yield of its common shareholders. The primary risk associated with VMTP Shares is exposing the net asset value of the common shares and total return to increased volatility if the value of the Trust decreases while the value of the VMTP Shares remains unchanged. Fluctuations in the dividend rates on the VMTP Shares can also impact the Trust’s yield or its distributions to common shareholders. The Trust is subject to certain restrictions relating to the VMTP Shares, such as maintaining certain asset coverage and leverage ratio requirements. Failure to comply with these restrictions could preclude the Trust from declaring any distributions to common shareholders or purchasing common shares and/or could trigger an increased rate which, if not cured, could cause the mandatory redemption of VMTP Shares at the liquidation preference plus any accumulated but unpaid dividends.

The liquidation preference of VMTP Shares, which approximates fair value, is recorded as a liability under the caption

Variable rate muni term preferred shares

on the Statement of Assets and Liabilities. The fair value of VMTP Shares is expected to be approximately their liquidation preference so long as the credit rating on the VMTP Shares, and therefore the “spread” on the VMTP Shares (determined in accordance with the VMTP Shares’ governing document) remains unchanged. At

period-end,

the Trust’s Adviser has determined that fair value of VMTP Shares is approximately their liquidation preference. Fair value could vary if market conditions change materially. Unpaid dividends on VMTP Shares are recognized as

Accrued interest expense

on the Statement of Assets and Liabilities. Dividends paid on VMTP Shares are recognized as a component of

Interest,

facilities and maintenance fees

on the Statement of Operations.


18		Invesco Trust for Investment Grade New York Municipals

NOTE 10–Dividends

The Trust declared the following dividends to common shareholders from net investment income subsequent to August 31, 2024:

Declaration Date

Amount per Share

Record Date

Payable Date

September 3, 2024

$0.0685

September 17, 2024

September 30, 2024

October 1, 2024

$0.0685

October 16, 2024

October 31, 2024

NOTE 11–Subsequent Events

Following approval by the Board of Trustees of the Trust, on June 13, 2024, the Trust announced that it will conduct a cash tender offer for 25% of its outstanding common shares at a price equal to 99% of the Fund’s net asset value per share. The Trust’s tender offer will commence not earlier than October 31, 2024 and not later than November 8, 2024. The Trust will repurchase shares tendered and accepted in the tender offer in exchange for cash.

Additionally, on September 11, 2024, the Board of Trustees of the Trust approved the following changes to the VMTP Shares, which will go into effect no later than December 31, 2024.

The Trust will redeem up to 440 Series

2015/6-VTN

VMTP Shares, with a liquidation preference of $100,000 per share, and pay holders of such VMTP shares, the redemption price, including accumulated but unpaid dividends, as of such date, in connection with the partial redemption.


19		Invesco Trust for Investment Grade New York Municipals

Approval of Investment Advisory and Sub-Advisory Contracts

At meetings held on June 12, 2024, the Board of Trustees (the Board or the Trustees) of Invesco Trust for Investment Grade New York Municipals (the Fund) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of the Fund’s Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and the Master Intergroup

Sub-Advisory

Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the Affiliated

Sub-Advisers

and the

sub-advisory

contracts) for another year, effective July 1, 2024. After evaluating the factors discussed below, among others, the Board approved the renewal of the Fund’s investment advisory agreement and the

sub-advisory

contracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated

Sub-Advisers

is fair and reasonable.

The Board’s Evaluation Process

The Board has established an Investments Committee, which in turn has established

Sub-Committees,

that meet throughout the year to review the performance of funds advised by Invesco Advisers (the Invesco Funds). The

Sub-Committees

meet regularly with portfolio managers for their assigned Invesco Funds and other members of management to review information about investment performance and portfolio attributes of these funds. The Board has established additional standing and ad hoc committees that meet regularly throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the annual review process for the Invesco Funds’ investment advisory and

sub-advisory

contracts. The Board took into account evaluations and reports that it received from its committees and

sub-committees,

as well as the information provided to the Board and its committees and

sub-committees

throughout the year, in considering whether to approve each Invesco Fund’s investment advisory agreement and

sub-advisory

contracts.

As part of the contract renewal process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent mutual fund data provider, as well as information on the composition of the peer groups provided by Broadridge and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer’s evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds’ proposed management fees are negotiated during the annual contract renewal

process to ensure they are negotiated in a manner that is at arms’ length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 7, 2024 and June 12, 2024, the independent Trustees also discussed the continuance of the investment advisory agreement and

sub-advisory

contracts in separate sessions with the Senior Officer and with independent legal counsel. Also, as part of the contract renewal process, the independent Trustees reviewed and considered information provided in response to

follow-up

requests for information submitted by the independent Trustees to management. The independent Trustees met and discussed those

follow-up

responses with legal counsel to the independent Trustees and the Senior Officer.

The discussion below is a summary of the Senior Officer’s independent written evaluation with respect to the Fund’s investment advisory agreement and

sub-advisory

contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board’s approval of the Fund’s investment advisory agreement and

sub-advisory

contracts. The Trustees’ review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and in prior years and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee. The information received and considered by the Board was current as of various dates prior to the Board’s approval on June 12, 2024.

Factors and Conclusions and Summary of Independent Written Fee Evaluation

A.	Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers

The Board reviewed the nature, extent and quality of the advisory services provided to the Fund by Invesco Advisers under the Fund’s investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including the Fund’s portfolio manager(s). The Board’s review included consideration of Invesco Advisers’ investment process and oversight, credit analysis and research capabilities. The Board considered information regarding Invesco Advisers’ programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco’s methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco’s ability to attract and retain talent. The Board considered the additional services provided to the Fund due to the fact that the Fund is a

closed-end

fund, including, but not limited to, leverage management and monitoring, evaluating, and, where appropriate, making recommendations with respect to the Fund’s trading discount, share repurchase program, and distribution rates, as well as shareholder relations activities. The Board received a description of, and reports related

to, Invesco Advisers’ global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered

non-advisory

services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board observed that Invesco Advisers’ systems preparedness and ongoing investment enabled Invesco Advisers to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers’ parent company, and noted Invesco Ltd.’s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers are appropriate and satisfactory.

The Board reviewed the services that may be provided to the Fund by the Affiliated

Sub-Advisers

under the

sub-advisory

contracts and the credentials and experience of the officers and employees of the Affiliated

Sub-Advisers

who provide these services. The Board noted the Affiliated

Sub-Advisers’

expertise with respect to certain asset classes and that the Affiliated

Sub-Advisers

have offices and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated

Sub-Advisers

can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the

sub-advisory

contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated

Sub-Advisers

in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated

Sub-Advisers

are appropriate and satisfactory.

B.	Fund Investment Performance

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the

sub-advisory

contracts for the Fund, as no Affiliated

Sub-Adviser

currently manages assets of the Fund.

The Board compared the Fund’s investment performance over multiple time periods ending December 31, 2023 to the performance of funds in the Broadridge performance universe and against the S&P Municipal Bond New York 5+ Year Investment Grade Index (Index). The Board noted that the Fund’s performance was in the second quintile of its performance universe for the one and five year periods and the first quintile for the three year period (the first quintile being the best performing funds and the fifth quintile being the worst performing funds). The Board noted that the Fund’s performance was above the performance of the Index for the one year


20		Invesco Trust for Investment Grade New York Municipals

period and below the performance of the index for the three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions. The Board also reviewed supplementally historic premium and discount levels of the Fund as provided to the Board at meetings throughout the year.

C.	Advisory and Sub-Advisory Fees and Fund Expenses

The Board compared the Fund’s contractual management fee rate to the contractual management fee rates of funds in the Fund’s Broadridge expense group. The Board noted that the contractual management and actual management fee rates for shares of the Fund were each the same as the contractual management and actual management fee rates of funds in its expense group. The Board noted that there were only five funds (including the Fund) in the expense group. The Board noted that the term “contractual management fee” and “actual management fee” for funds in the expense group may include both advisory and certain

non-portfolio

management administrative services fees, but that Broadridge is not able to provide information on a

fund-by-fund

basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund’s contractual management fee schedule (including any applicable breakpoints) as reported in the most recent audited annual reports for each fund in the expense group. The Board also considered comparative information regarding the Fund’s total expense ratio and its various components. The Board requested and considered additional information from management regarding the Fund’s contractual management fees. As previously noted, the independent Trustees reviewed and considered information provided in response to

follow-up

requests for information submitted by the independent Trustees to management including with respect to the Fund’s contractual management fee schedule and actual management fees relative to other state-specific municipal Invesco funds. The independent Trustees met and discussed those

follow-up

responses with legal counsel to the independent Trustees and the Senior Officer, and subsequently with representatives of management.

The Board noted that Invesco Advisers and the Affiliated

Sub-Advisers

do not manage other client accounts with investment strategies comparable to those of the Fund.

The Board also considered the services that may be provided by the Affiliated

Sub-Advisers

pursuant to the

sub-advisory

contracts, as well as the fees payable by Invesco Advisers to the Affiliated

Sub-Advisers

pursuant to the

sub-advisory

contracts.

D.	Economies of Scale and Breakpoints

The Board noted that most

closed-end

funds do not have fund level breakpoints because

closed-end

funds generally do not experience substantial asset growth after the initial public offering. The Board acknowledged the difficulty in calculating and measuring economies of scale at the individual fund level; noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board noted that the Fund does not benefit from economies of scale through contractual breakpoints,

but does share in economies of scale through Invesco Advisers’ ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements as well as Invesco Advisers’ investment in its business, including investments in business infrastructure, technology and cybersecurity.

E.	Profitability and Financial Resources

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual

fund-by-fund

basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers’ support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated

Sub-Advisers

are financially sound and have the resources necessary to perform their obligations under the

sub-advisory

contracts. The Board noted the cyclical and competitive nature of the global asset management industry.

F.	Collateral Benefits to Invesco Advisers and its Affiliates

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with the Fund. The Board considered the organizational structure employed to provide these services.

The Board considered that the Fund’s uninvested cash may be invested in registered money market funds advised by Invesco Advisers. The Board considered information regarding the returns of the affiliated money market funds relative to comparable overnight investments, as well as the fees paid by the affiliated money market funds to Invesco Advisers and affiliates. In this regard, the Board noted that Invesco Advisers receives advisory fees from these affiliated money market funds attributable to the Fund’s investments. The Board also noted that Invesco Advisers has contractually agreed to waive through varying periods an amount equal to 100% of the net advisory fee Invesco Advisers receives from the affiliated money market funds with respect to the Fund’s investment in the affiliated money market funds of uninvested cash.


21		Invesco Trust for Investment Grade New York Municipals

Proxy Results

A Joint Annual Meeting (“Meeting”) of Shareholders of Invesco Trust For Investment Grade New York Municipals (the “Fund”) was held on August 29, 2024. The Meeting was held for the following purpose:

(1). Election of Trustees by Common Shareholders and Preferred Shareholders voting together as a single class.

(2). Election of Trustees by Preferred Shareholders voting as a separate class.

The results of the voting on the above matters were as follows:


	Matter	Votes For		Votes Against/ Withheld


(1)	Elizabeth Krentzman		16,311,900.57		1,141,754.41
	Robert C. Troccoli		16,289,292.57		1,164,362.41
	Carol Deckbar		16,284,372.34		1,169,282.64
	Douglas Sharp		16,284,509.57		1,169,145.41
(2)	Elizabeth Krentzman		904.00		0.00
	Robert C. Troccoli		904.00		0.00
	Carol Deckbar		904.00		0.00
	Douglas Sharp		904.00		0.00

A Joint Special Meeting (“Meeting”) of Shareholders of Invesco Trust For Investment Grade New York Municipals (the “Fund”) was held on August 29, 2024.The Meeting was held for the following purpose:

(1). To approve amendments to the current fundamental investment restrictions of the Fund as follows:

The results of the voting on the above matters were as follows:


	Matter	Votes For		Votes Against/Withheld		Votes Abstain


(a)	To amend the fundamental investment restriction regarding diversification		9,968,922.86		903,585.62		306,719.50
(b)	To amend the fundamental investment restriction regarding borrowing		9,846,348.02		1,006,115.62		326,765.34
(c)	To amend the fundamental investment restriction regarding issuing senior securities		9,858,857.02		1,004,093.46		316,278.50
(d)	To amend the fundamental investment restriction regarding underwriting securities issued by other persons		9,839,891.02		988,317.46		351,020.50
(e)	To amend the fundamental investment restriction regarding lending		9,843,594.02		998,964.46		336,669.50
(f)	To amend the fundamental investment restriction regarding purchasing and selling real estate		9,835,228.29		1,045,935.19		298,064.50
(g)	To amend the fundamental investment restriction regarding purchasing and selling commodities		9,853,515.86		1,007,471.62		318,240.50
(h)	To amend the fundamental investment restriction regarding industry concentration		9,892,691.86		997,385.62		289,150.50

(2). To approve the removal of the following current fundamental investment restrictions for the affected Fund as follows:

The results of the voting on the above matters were as follows:


	Matter	Votes For		Votes Against/Withheld		Votes Abstain


(a)	To remove the fundamental investment restriction regarding purchasing on margin		9,780,477.59		1,124,064.89		274,687.50
(b)	To remove the fundamental investment restriction(s) regarding making short sales, writing, purchasing or selling puts or calls or purchasing futures or options		9,792,217.59		1,099,496.89		287,514.50
(c)	To remove the fundamental investment restriction regarding investing for control or management		9,798,317.02		1,050,807.46		330,105.50
(d)	To remove the fundamental investment restriction regarding investing in other investment companies		9,860,284.02		997,839.19		321,105.77
(e)	To remove the fundamental investment restriction regarding investing in oil, gas or mineral exploration or development programs		9,841,475.59		1,036,865.62		300,888.77
(f)	To remove the fundamental investment restriction regarding investing for short-term profit		10,168,713.59		725,064.89		285,449.50


22		Invesco Trust for Investment Grade New York Municipals

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Correspondence information

Send general correspondence to Computershare Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078

Trust holdings and proxy voting information

The Trust provides a complete list of its portfolio holdings four times each fiscal year, at the end of each fiscal quarter. For the second and fourth quarters, the list appears, respectively, in the Trust’s semiannual and annual reports to shareholders. For the first and third quarters, the Trust files the list with the Securities and Exchange Commission (SEC) as an exhibit to its reports on Form

N-PORT.

The most recent list of portfolio holdings is available at invesco.com/us. Shareholders can also look up the Trust’s Form

N-PORT

filings on the SEC website at sec.gov. The SEC file number for the Trust is shown below.

A description of the policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities is available without charge, upon request, from our Client Services department at 800 341 2929 or at

invesco.com/corporate/about-us/esg.

The information is also available on the SEC website, sec.gov.

Information regarding how the Trust voted proxies related to its portfolio securities during the most recent

12-month

period ended June 30 is available at invesco.com/proxysearch. The information is also available on the SEC website, sec.gov.


SEC file number(s): 811-06537				VK-CE-IGNYM-SAR-1

(b) Not applicable.

Item 2.

Code of Ethics

Not applicable for a semi-annual report.

Item 3.

Audit Committee Financial Expert

Not applicable.

Item 4.

Principal Accountant Fees and Services

Not applicable.

Item 5.

Audit Committee of Listed Registrants

Not applicable.

Item 6.

Investments

Investments in securities of unaffiliated issuers is filed under Item 1 of this Form.

Item 7.

Financial Statements and Financial Highlights for Open-End Management Investment Companies

Not applicable.

Item 8.

Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Not applicable.

Item 9.

Proxy Disclosures for Open-End Management Investment Companies

Not applicable.

Item 10.

Remuneration Paid to Directors, Officers, and Others for Open-End Management Investment Companies

Not applicable.

Item 11.

Statement Regarding Basis for Approval of Investment Advisory Contract

Not applicable.

Item 12.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 13.

Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 14.

Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 15.

Submission of Matters to a Vote of Security Holders

None.

Item 16.

Controls and Procedures

(a)

As of a date within 90 days of the filing date of this report, 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 (the “Act”), as amended. Based on that evaluation, the Registrant’s officers, including the PEO and PFO, concluded that the Registrant’s disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR 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 period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 17.

Disclosure of Securities Lending Activity for Closed-End Management Investment Companies

Not applicable.

Item 18.

Recovery of Erroneously Awarded Compensation

Not applicable.

Item 19.

Exhibits

19(a)(1) Not applicable.

19(a)(2) Not applicable.

19(a)(3) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002.

19(b) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002.

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 Trust for Investment Grade New York Municipals


By:		/s/ Glenn Brightman
		Glenn Brightman
		Principal Executive Officer

Date:		November 1, 2024

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.


By:		/s/ Glenn Brightman
		Glenn Brightman
		Principal Executive Officer

Date:		November 1, 2024

By:		/s/ Adrien Deberghes
		Adrien Deberghes
		Principal Financial Officer

Date:		November 1, 2024

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SEC Form N-CSRS filed by Invesco Trust for Investment Grade New York Municipals

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