USAA TAX EXEMPT FUND INC
NSAR-A, 1997-11-20
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<PAGE>      PAGE  1
000 A000000 09/30/97
000 C000000 0000356555
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 USAA TAX EXEMPT FUND, INC.
001 B000000 811-3333
001 C000000 2104984876
002 A000000 10750 ROBERT F. MCDERMOTT FREEWAY
002 B000000 SAN ANTONIO
002 C000000 TX
002 D010000 78288
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 10
007 C010100  1
007 C020100 LONG-TERM FUND
007 C030100 N
007 C010200  2
007 C020200 INTERMEDIATE-TERM FUND
007 C030200 N
007 C010300  3
007 C020300 SHORT-TERM FUND
007 C030300 N
007 C010400  4
007 C020400 TAX EXEMPT MONEY MARKET FUND
007 C030400 N
007 C010500  5
007 C020500 CALIFORNIA BOND FUND
007 C030500 N
007 C010600  6
007 C020600 CALIFORNIA MONEY MARKET FUND
007 C030600 N
007 C010700  7
007 C020700 NEW YORK BOND FUND
007 C030700 N
007 C010800  8
007 C020800 NEW YORK MONEY MARKET FUND
007 C030800 N
007 C010900  9
007 C020900 VIRGINIA BOND FUND
007 C030900 N
007 C011000 10
007 C021000 VIRGINIA MONEY MARKET FUND
<PAGE>      PAGE  2
007 C031000 N
008 A00AA01 USAA INVESTMENT MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-34462
008 D01AA01 SAN ANTONIO
008 D02AA01 TX
008 D03AA01 78288
011 A00AA01 USAA INVESTMENT MANAGEMENT COMPANY
011 B00AA01 8-41241
011 C01AA01 SAN ANTONIO
011 C02AA01 TX
011 C03AA01 78288
012 A00AA01 USAA TRANSFER AGENCY COMPANY
012 B00AA01 84-1197
012 C01AA01 SAN ANTONIO
012 C02AA01 TX
012 C03AA01 78288
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 SAN ANTONIO
013 B02AA01 TX
013 B03AA01 78205
013 B04AA01 1505
014 A00AA01 USAA INVESTMENT MANAGEMENT COMPANY
014 B00AA01 8-41241
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   38
019 C00AA00 USAAINVMCO
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 PIPER JAFFRAY INC.
022 B000001 41-0953246
022 C000001    312713
022 D000001    292419
022 A000002 MORGAN STANLEY & CO. INCORPORATED
022 B000002 13-2655998
<PAGE>      PAGE  3
022 C000002    351417
022 D000002    221239
022 A000003 SMITH BARNEY INCORPORATED
022 B000003 13-1912900
022 C000003    333306
022 D000003    220663
022 A000004 CITICORP SECURITIES, INCORPORATED
022 B000004 13-2771536
022 C000004    283194
022 D000004    267445
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000005 13-5674085
022 C000005    398241
022 D000005    102642
022 A000006 PAINE WEBBER INCORPORATED
022 B000006 13-2638166
022 C000006    201264
022 D000006    101830
022 A000007 MORGAN (J.P.) SECURITIES INCORPORATED
022 B000007 13-3224016
022 C000007    138656
022 D000007     98440
022 A000008 STEPHENS INCORPORATED
022 B000008 71-0211822
022 C000008    134405
022 D000008     69955
022 A000009 BEAR, STEARNS & CO. INC.
022 B000009 13-3299429
022 C000009    141526
022 D000009     51345
022 A000010 BT SECURITIES CORPORATION
022 B000010 13-3311934
022 C000010    108195
022 D000010     73800
023 C000000    5594651
023 D000000    4069175
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<PAGE>      PAGE  4
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080 A00AA00 AETNA CASUALTY & SURETY COMPANY
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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<PAGE>      PAGE  20
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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<PAGE>      PAGE  23
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<PAGE>      PAGE  24
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<PAGE>      PAGE  25
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
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<PAGE>      PAGE  28
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<PAGE>      PAGE  29
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<PAGE>      PAGE  31
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<PAGE>      PAGE  32
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<PAGE>      PAGE  33
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<PAGE>      PAGE  34
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<PAGE>      PAGE  35
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<PAGE>      PAGE  36
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<PAGE>      PAGE  38
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SIGNATURE   MICHAEL J.C. ROTH                            
TITLE       PRESIDENT           
 


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</TABLE>

<TABLE> <S> <C>

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</TABLE>

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<NAME> USAA TAX EXEMPT FUND, INC.
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   <NUMBER> 6
   <NAME> CALIFORNIA MONEY MARKET FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
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<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                        221,577
<NUMBER-OF-SHARES-REDEEMED>                  (179,900)
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<ACCUMULATED-NII-PRIOR>                              0
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<EXPENSE-RATIO>                                    .42
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000356555
<NAME> USAA TAX EXEMPT FUND, INC.
<SERIES>
   <NUMBER> 7
   <NAME> NEW YORK BOND FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
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<PERIOD-END>                               SEP-30-1997
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<INVESTMENTS-AT-VALUE>                          62,353
<RECEIVABLES>                                    1,101
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<OTHER-ITEMS-ASSETS>                                 0
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<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                            5,516
<SHARES-COMMON-PRIOR>                            5,305
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (2,984)
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<NET-ASSETS>                                    62,773
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
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<APPREC-INCREASE-CURRENT>                        2,192
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<NUMBER-OF-SHARES-REDEEMED>                      (494)
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<EXPENSE-RATIO>                                   0.50
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000356555
<NAME> USAA TAX EXEMPT FUND, INC.
<SERIES>
   <NUMBER> 8
   <NAME> NEW YORK MONEY MARKET FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
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<SHARES-COMMON-PRIOR>                           49,996
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<NUMBER-OF-SHARES-REDEEMED>                   (24,401)
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<INTEREST-EXPENSE>                                   0
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<EXPENSE-RATIO>                                   0.50
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000356555
<NAME> USAA TAX EXEMPT FUND, INC.
<SERIES>
   <NUMBER> 9
   <NAME> VIRGINIA BOND FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<PERIOD-END>                               SEP-30-1997
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<INVESTMENTS-AT-VALUE>                         316,858
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<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                          2,106
<NUMBER-OF-SHARES-REDEEMED>                    (1,445)
<SHARES-REINVESTED>                                563
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<ACCUMULATED-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                           304,717
<PER-SHARE-NAV-BEGIN>                            10.92
<PER-SHARE-NII>                                   0.31
<PER-SHARE-GAIN-APPREC>                           0.43
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<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
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<EXPENSE-RATIO>                                   0.45
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000356555
<NAME> USAA TAX EXEMPT FUND, INC.
<SERIES>
   <NUMBER> 10
   <NAME> VIRGINIA MONEY MARKET FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                          113,561
<SHARES-COMMON-PRIOR>                          113,330
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                   (51,056)
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</TABLE>


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