Franklin Federal Intermediate-Term Tax-Free Income Fund Class R6 is a municipal bond mutual fund designed to provide investors with a high level of income exempt from regular federal income taxes, including the federal alternative minimum tax. This fund primarily allocates at least 80% of its assets to tax-free municipal securities, focusing on intermediate-term maturities to balance income potential with interest rate sensitivity. Its portfolio is diversified across various state and local government issuers, supporting infrastructure and public projects nationwide. The fund is managed with an emphasis on prudent risk management and capital preservation, making it a significant option for institutions and individuals seeking federally tax-exempt income. By investing in this fund, market participants gain exposure to the U.S. municipal bond sector, which plays a vital role in funding essential public services and community development initiatives.