UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

 

Investment Company Act file number 811-10331

 

Name of Fund: BlackRock California Municipal Income Trust (BFZ)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock California Municipal Income Trust, 55 East 52^nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 07/31/2014

 

Date of reporting period: 04/30/2014

 

Item 1 – Schedule of Investments

 

Schedule of Investments April 30, 2014 (Unaudited)	BlackRock California Municipal Income Trust (BFZ)
	(Percentages shown are based on Net Assets)

 

Municipal Bonds			Par (000)		Value
California — 102.4%
Corporate — 0.7%
City of Chula Vista California, Refunding RB, San Diego Gas & Electric:
	Series A, 5.88%, 2/15/34	$	680	$	780,008
	Series D, 5.88%, 1/01/34		2,500		2,867,675
					3,647,683
County/City/Special District/School District — 32.2%
Butte-Glenn Community College District, GO, Election of 2002, Series C, 5.50%, 8/01/30			8,425		9,497,924
Centinela Valley Union High School District, GO, Refunding, Election of 2008, Series B, 5.75%, 8/01/33			1,250		1,464,125
Cerritos Community College District, GO, Election of 2004, Series C, 5.25%, 8/01/31			3,000		3,428,400
City of San Jose California Hotel Tax, RB, Convention Center Expansion & Renovation Project:
	6.13%, 5/01/31		500		579,880
	6.50%, 5/01/36		1,210		1,417,334
	6.50%, 5/01/42		2,225		2,600,268
County of Kern California, COP, Capital Improvements Projects, Series A (AGC), 6.00%, 8/01/35			2,000		2,317,660
County of Orange California Water District, COP, Refunding, 5.25%, 8/15/34			2,000		2,287,120
County of San Joaquin California Transportation Authority, Refunding RB, Limited Tax, Measure K, Series A:
	6.00%, 3/01/36		2,880		3,481,027
	5.50%, 3/01/41		5,265		5,866,158
County of Santa Clara California Financing Authority, Refunding LRB, Series L, 5.25%, 5/15/36			20,000		22,202,200
Evergreen Elementary School District, GO, Election of 2006, Series B (AGC), 5.13%, 8/01/33			2,500		2,835,025
Grossmont Healthcare District, GO, Election of 2006, Series B:
	6.00%, 7/15/34		3,260		3,813,548
	6.13%, 7/15/40		2,000		2,328,000
Kern Community College District, GO, Safety Repair & Improvements, Series C, 5.25%, 11/01/32			125		143,316
Municipal Bonds			Par (000)		Value
California (continued)
County/City/Special District/School District (continued)
Long Beach Unified School District California, GO, Refunding, Election of 2008, Series A, 5.75%, 8/01/33		$	4,135	$	4,840,431
Los Alamitos Unified School District California, GO, School Facilities Improvement District No. 1, 5.50%, 8/01/33			6,300		7,211,862
Los Angeles Municipal Improvement Corp., Refunding RB, Real Property, Series B (AGC), 5.50%, 4/01/30			5,065		5,800,185
Modesto Irrigation District, COP, Capital Improvements, Series A:
	5.75%, 10/01/29		3,000		3,354,270
	5.75%, 10/01/34		180		198,837
Oak Grove School District California, GO, Election of 2008, Series A, 5.50%, 8/01/33			6,000		6,920,880
Pico Rivera Public Financing Authority, RB, 5.75%, 9/01/39			2,000		2,195,760
Pittsburg Unified School District, GO, Election of 2006, Series B (AGM), 5.50%, 8/01/34			2,000		2,265,420
Sacramento Area Flood Control Agency, Special Assessment Bonds, Consolidated Capital Assessment District, 5.25%, 10/01/32			4,865		5,590,080
San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33			1,500		1,723,800
San Diego Regional Building Authority, RB, County Operations Center & Annex, Series A, 5.38%, 2/01/36			5,500		6,259,935
San Jose California Financing Authority, Refunding LRB, Series A:
	Civic Center Project, 5.00%, 6/01/32		3,375		3,741,052
	Convention Center Expansion & Renovation Project, 5.00%, 6/01/39		5,000		5,421,200
San Leandro California Unified School District, GO, Election of 2010, Series A, 5.75%, 8/01/41			3,060		3,426,741
Santa Ana Unified School District, GO, Election of 2008, Series A:
	5.50%, 8/01/30		6,455		7,390,717
	5.13%, 8/01/33		10,000		11,231,900

Schedule of Investments (continued)	BlackRock California Municipal Income Trust (BFZ)
	(Percentages shown are based on Net Assets)

Municipal Bonds			Par (000)		Value
California (continued)
County/City/Special District/School District (concluded)
Snowline Joint Unified School District, COP, Refunding, Refining Project (AGC), 5.75%, 9/01/38		$	2,250	$	2,602,935
Torrance Unified School District California, GO, Election of 2008, Measure Z, 6.00%, 8/01/33			4,000		4,731,640
Tustin Unified School District, GO, Election of 2008, Series B, 5.25%, 8/01/31			3,445		3,877,347
West Contra Costa California Unified School District, GO, Series A:
	Election of 2010 (AGM), 5.25%, 8/01/32		4,925		5,469,262
	Election of 2012, 5.50%, 8/01/39		2,500		2,797,725
					161,313,964
Education — 2.2%
California Educational Facilities Authority, Refunding RB, San Francisco University, 6.13%, 10/01/36			6,280		7,398,782
California Municipal Finance Authority, RB, Emerson College, 5.75%, 1/01/33			2,500		2,818,000
University of California, RB, Series O, 5.38%, 5/15/34			490		560,820
					10,777,602
Health — 18.1%
ABAG Finance Authority for Nonprofit Corps., Refunding RB, Sharp Healthcare:
	6.38%, 8/01/14 (a)		3,095		3,143,468
	6.25%, 8/01/39		4,960		5,652,366
	Series A, 6.00%, 8/01/30		2,300		2,765,750
California Health Facilities Financing Authority, RB:
	Adventist Health System West, Series A, 5.75%, 9/01/39		6,700		7,648,318
	Catholic Healthcare West, Series J, 5.63%, 7/01/32		9,750		9,998,430
	Children's Hospital, Series A, 5.25%, 11/01/41		9,165		9,790,970
	St. Joseph Health System, Series A, 5.75%, 7/01/39		325		374,127
	Sutter Health, Series A, 5.25%, 11/15/46		5,195		5,383,682
	Sutter Health, Series B, 6.00%, 8/15/42		6,015		7,125,249
Municipal Bonds			Par (000)		Value
California (continued)
Health (concluded)
California Health Facilities Financing Authority, Refunding RB:
	Catholic Healthcare West, Series A, 6.00%, 7/01/29	$	1,000	$	1,147,780
	Catholic Healthcare West, Series A, 6.00%, 7/01/34		4,470		5,043,590
	Catholic Healthcare West, Series A, 6.00%, 7/01/39		5,550		6,164,607
	Providence Health, 6.50%, 10/01/38		4,100		4,823,855
California Statewide Communities Development Authority, RB:
	John Muir Health, Series A, 5.13%, 7/01/39		1,500		1,599,660
	Kaiser Permanente, Series A, 5.00%, 4/01/42		3,000		3,189,270
	Kaiser Permanente, Series B, 5.25%, 3/01/45		2,000		2,044,440
California Statewide Communities Development Authority, Refunding RB:
	Catholic Healthcare West, Series B, 5.50%, 7/01/30		2,940		3,224,945
	Catholic Healthcare West, Series E, 5.50%, 7/01/31		5,065		5,549,366
	Trinity Health Credit Group Composite Issue, 5.00%, 12/01/41		4,000		4,227,200
Washington Township Health Care District, GO, Series B, 5.50%, 8/01/38			1,625		1,875,591
					90,772,664
Internet Software & Services — 0.1%
City of Chula Vista, Series B, RB, 5.88%, 2/15/34			525		602,212
State — 13.0%
California State Public Works Board, LRB:
	Department of Corrections & Rehabilitation, Series A, 5.00%, 9/01/39		13,170		14,136,810
	Department of Corrections & Rehabilitation, Series F, 5.25%, 9/01/33		3,335		3,731,398
	Department of Education, Riverside Campus Project, Series B, 6.50%, 4/01/34		9,000		10,666,890
	Various Capital Projects, Series I, 5.50%, 11/01/33		4,940		5,728,523

Schedule of Investments (continued)	BlackRock California Municipal Income Trust (BFZ)
	(Percentages shown are based on Net Assets)

Municipal Bonds			Par (000)		Value
California (continued)
State (concluded)
California State Public Works Board, LRB (concluded):
	Various Capital Projects, Sub-Series I-1, 6.38%, 11/01/34	$	5,025	$	6,025,427
California State Public Works Board, LRB, Series B, 5.00%, 10/01/39			3,965		4,258,053
State of California, GO, Various Purposes:
	6.00%, 3/01/33		2,000		2,397,080
	6.50%, 4/01/33		2,500		3,046,825
	6.00%, 4/01/38		12,670		14,896,499
					64,887,505
Transportation — 10.7%
City & County of San Francisco California Airports Commission, ARB, Series E, 6.00%, 5/01/39			6,750		7,963,650
City & County of San Francisco California Airports Commission, Refunding ARB, 2nd Series A, AMT, 5.25%, 5/01/33			1,440		1,592,165
City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport:
	Series A, 5.00%, 5/15/34		6,650		7,365,872
	Series A, Senior, 5.00%, 5/15/40		3,750		4,041,863
	Sub-Series C, 5.25%, 5/15/38		1,950		2,154,321
City of San Jose California, Refunding ARB, Series A-1, AMT:
	5.75%, 3/01/34		2,870		3,191,497
	6.25%, 3/01/34		2,650		3,032,607
County of Orange California, ARB, Series B, 5.75%, 7/01/34			8,000		9,069,760
County of Sacramento California, ARB:
	PFC/Grant, Sub-Series D, 6.00%, 7/01/35		3,000		3,445,950
	Senior Series B, 5.75%, 7/01/39		1,850		2,109,870
	Senior Series B, AMT (AGM), 5.25%, 7/01/33		3,015		3,186,704
Los Angeles Harbor Department, RB, Series B, 5.25%, 8/01/34			5,580		6,367,896
					53,522,155
Municipal Bonds			Par (000)		Value
California (continued)
Utilities — 25.4%
Anaheim Public Financing Authority, RB, Electric System Distribution Facilities, Series A, 5.38%, 10/01/36		$	7,690	$	8,859,418
California Infrastructure & Economic Development Bank, RB, California Independent System Operator, Series A, 6.25%, 2/01/15 (a)			4,500		4,705,740
Calleguas-Las Virgenes Public Financing Authority California, RB, Calleguas Municipal Water District Project, Series A (NPFGC), 5.13%, 7/01/32			4,000		4,302,520
City of Chula Vista California, Refunding RB, San Diego Gas & Electric, Series D, 5.88%, 1/01/34			6,555		7,519,044
City of Los Angeles California Wastewater System, Refunding RB, Series A, 5.00%, 6/01/39			2,000		2,174,720
City of Napa California Water Revenue, RB (AMBAC), 5.00%, 5/01/35			3,000		3,123,720
City of Petaluma California Wastewater, Refunding RB, 6.00%, 5/01/36			5,625		6,533,381
City of San Francisco California Public Utilities Commission Water Revenue, RB, Series A:
	5.00%, 11/01/35		10,625		11,421,981
	5.00%, 11/01/37		12,695		14,081,421
Cucamonga Valley Water District, Refunding RB, Series A (AGM), 5.25%, 9/01/31			4,270		4,944,233
Dublin-San Ramon Services District, Refunding RB, 6.00%, 8/01/41			2,425		2,931,946
East Bay California Municipal Utility District Water System Revenue, Refunding RB, Series A, 5.00%, 6/01/36			6,615		7,422,758
East Bay California Municipal Utility District Water System Revenue, RB, Series A (NPFGC), 5.00%, 6/01/35			3,000		3,122,190
El Dorado Irrigation District / El Dorado County Water Agency, Refunding RB, Series A, 5.25%, 3/01/39			10,000		11,189,000

Schedule of Investments (continued)	BlackRock California Municipal Income Trust (BFZ)
	(Percentages shown are based on Net Assets)

Municipal Bonds			Par (000)		Value
California (concluded)
Utilities (concluded)
Los Angeles Department of Water & Power, RB:
	Power System, Sub-Series A-1, 5.25%, 7/01/38	$	9,000	$	10,112,670
	Series A, 5.38%, 7/01/34		3,250		3,685,338
Los Angeles Department of Water & Power, Refunding RB, Series A, 5.25%, 7/01/39			4,000		4,398,000
Metropolitan Water District of Southern California, RB, Series A, 5.00%, 7/01/37			4,000		4,370,760
San Diego Public Facilities Financing Authority Sewer, Refunding RB, Senior Series A, 5.25%, 5/15/34			11,020		12,547,592
					127,446,432
Total Municipal Bonds in California					512,970,217
Multi-State — 1.6%
Housing — 1.6%
Centerline Equity Issuer Trust (b)(c):
	Series A-4-1, 5.75%, 5/15/15		500		522,420
	Series A-4-2, 6.00%, 5/15/19		1,000		1,150,240
	Series B-2, 7.20%, 11/15/14		3,500		3,604,090
	Series B-3-1, 6.00%, 5/15/15		1,500		1,567,545
	Series B-3-2, 6.30%, 5/15/19		1,000		1,162,680
Total Municipal Bonds in Multi-State					8,006,975
Total Municipal Bonds — 104.0%					520,977,192
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (d)
California — 51.7%
County/City/Special District/School District — 17.8%
Los Angeles Community College District California, GO:
	Election of 2001, Series A (AGM), 5.00%, 8/01/32		8,000		8,867,120
	Election of 2003, Series F-1, 5.00%, 8/01/33		5,000		5,590,650
	Election of 2008, Series C, 5.25%, 8/01/39 (e)		12,900		14,668,074
Los Angeles Community College District California, GO, Refunding, Election of 2008, Series A, 6.00%, 8/01/33			20,131		23,912,242
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (d)			Par (000)		Value
California (continued)
County/City/Special District/School District (concluded)
Los Angeles Unified School District California, GO, Series I, 5.00%, 1/01/34		$	5,000	$	5,567,300
San Bernardino Community College District California, GO, Election of 2002, Series C (AGM), 5.00%, 8/01/31			2,000		2,152,700
San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33			10,484		12,048,728
San Jose Unified School District Santa Clara County California, GO, Election of 2002, Series D, 5.00%, 8/01/32			14,625		16,352,580
					89,159,394
Education — 10.4%
California Educational Facilities Authority, RB, University of Southern California, Series B, 5.25%, 10/01/39 (e)			10,395		11,785,227
County of San Mateo California Community College District, GO, Election of 2005, Series B, 5.00%, 9/01/31			8,630		9,437,596
Grossmont Union High School District, GO, Election of 2004, 5.00%, 8/01/33			13,095		13,917,479
University of California, RB:
	Limited Project, Series D (AGM), 5.00%, 5/15/41		2,600		2,829,268
	Series O, 5.75%, 5/15/34		12,300		14,334,584
					52,304,154
Utilities — 23.5%
California State Department of Water Resources, Refunding RB, Central Valley Project, Series AE, 5.00%, 12/01/29			7,000		7,952,910
County of Orange California Sanitation District, COP, Series B (AGM), 5.00%, 2/01/37			14,700		16,074,303
County of Orange California Water District, COP, Refunding, 5.00%, 8/15/39			10,480		11,586,479
County of San Diego California Water Authority, COP, Refunding, Series A (AGM), 5.00%, 5/01/33			14,290		15,890,909
Eastern Municipal Water District, COP, Series H, 5.00%, 7/01/33			18,002		20,103,392

Schedule of Investments (continued)	BlackRock California Municipal Income Trust (BFZ)
	(Percentages shown are based on Net Assets)

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (d)			Par (000)		Value
California (concluded)
Utilities (concluded)
Los Angeles Department of Water & Power, RB, Power System:
	Sub-Series A-1 (AMBAC), 5.00%, 7/01/37	$	15,998	$	17,692,904
	Sub-Series A-2 (AGM), 5.00%, 7/01/35		2,000		2,165,620
Metropolitan Water District of Southern California, RB, Series A, 5.00%, 7/01/37			11,180		12,216,274
San Diego Public Facilities Financing Authority Sewer, Refunding RB, Senior Series A, 5.25%, 5/15/39			12,457		13,993,963
					117,676,754
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts — 51.7%					259,140,302
Total Long-Term Investments (Cost — $710,039,323) — 155.7%					780,117,494
Short-Term Securities			Shares		Value
BIF California Municipal Money Fund, 0.00% (f)(g)			203,836	$	203,836
Total Short-Term Securities (Cost — $203,836) — 0.1%					203,836
Total Investments (Cost — $710,243,159*) — 155.8%					780,321,330
Other Assets Less Liabilities — 2.6%					13,081,221
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (24.2%)					(121,159,454)
VMTP Shares, at Liquidation Value — (34.2%)					(171,300,000)
Net Assets Applicable to Common Shares — 100.0%				$	500,943,097

 

*	As of April 30, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost	$	589,760,354
Gross unrealized appreciation	$	70,131,621
Gross unrealized depreciation		(708,199)
Net unrealized appreciation	$	69,423,422

 

Notes to Schedule of Investments
(a)	U.S. government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.
(b)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c)	Represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to its stated maturity.
(d)	Represent bonds transferred to a TOB. In exchange for which the Trust acquired residual interest certificates. These bonds serve as collateral in a financing transaction.
(e)	All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire from October 1, 2016 to August 1, 2018 is $14,008,480.
(f)	Investments in issuers considered to be an affiliate of the Trust during the period ended April 30, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

	Affiliate						Shares Held at July 31, 2013								Net Activity			Shares Held at April 30, 2014		Income
	BIF California Municipal Money Fund						1,269,184								(1,065,348)			203,836		—

 

(g)	Represents the current yield as of report date.

Schedule of Investments (continued)	BlackRock California Municipal Income Trust (BFZ)

Portfolio Abbreviations
AGC	Assured Guarantee Corp.
AGM	Assured Guaranty Municipal Corp.
AMBAC	American Municipal Bond Assurance Corp.
AMT	Alternative Minimum Tax (subject to)
ARB	Airport Revenue Bonds
COP	Certificates of Participation
GO	General Obligation Bonds
LRB	Lease Revenue Bonds
NPFGC	National Public Finance Guarantee Corp.
RB	Revenue Bonds

 

•	Financial futures contracts outstanding as of April 30, 2014 were as follows:

 

Contracts Sold	Issue	Exchange	Expiration	Notional Value			Unrealized Appreciation
(450)	10-Year U.S. Treasury Note	Chicago Board of Trade	June 2014	$	55,989,844	$	71,530

 

For Trust compliance purposes, the Trust’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment advisor. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

•	Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:
	•		Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access
	•		Level 2 — other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)
	•		Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust's own assumptions used in determining the fair value of investments and derivative financial instruments)
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust's policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of investments and derivative financial instruments, please refer to the Trust's most recent financial statements as contained in its semi-annual report.

 

Schedule of Investments (concluded)	BlackRock California Municipal Income Trust (BFZ)

The following tables summarize the Trust's investments and derivative financial instruments categorized in the disclosure hierarchy as of April 30, 2014:

 

			Level 1				Level 2				Level 3				Total
Assets:
Investments:
	Long-Term Investments 1			—		$		780,117,494				—		$	780,117,494
	Short-Term Securities	$		203,836				—				—			203,836
Total		$		203,836		$		780,117,494				—		$	780,321,330

 

1	See above Schedule of Investments for values in each sector.

 

		Level 1				Level 2				Level 3				Total
Derivative Financial Instruments 2
Assets:
Interest rate contracts	$		71,530				—				—		$	71,530

 

2	Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

 

The carrying amount for certain of the Trust's assets and/or liabilities approximates fair value for financial reporting purposes. As of April 30, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
			Level 1				Level 2					Level 3				Total
Assets:
	Cash pledged for financial futures contracts	$		594,000				—					—		$	594,000
Liabilities:
	TOB trust certificates			—		$		(121,137,554)					—			(121,137,554)
	VMTP Shares			—				(171,300,000)					—			(171,300,000)
Total		$		594,000		$		(292,437,554)					—		$	(291,843,554)
There were no transfers between levels during the period ended April 30, 2014.

 

 

Item 2 –	Controls and Procedures
2(a) –	The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the ″1940 Act″)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(b) –	There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3 –	Exhibits
	Certifications – Attached hereto
	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.
	BlackRock California Municipal Income Trust
	By:	/s/ John M. Perlowski
		John M. Perlowski
		Chief Executive Officer (principal executive officer) of
		BlackRock California Municipal Income Trust
	Date: June 23, 2014
	Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
	By:	/s/ John M. Perlowski
		John M. Perlowski
		Chief Executive Officer (principal executive officer) of
		BlackRock California Municipal Income Trust
	Date: June 23, 2014
	By:	/s/ Neal J. Andrews
		Neal J. Andrews
		Chief Financial Officer (principal financial officer) of
		BlackRock California Municipal Income Trust
	Date: June 23, 2014