FIDELITY CALIFORNIA TAX-FREE FUNDS
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED APRIL 18, 1994
The following table replaces that found on page 19.
1995 TAX RATES AND TAX EQUIVALENT YIELDS
Combined California
Single Return Joint Return Federal and Federal Effective
Taxable Income* Taxable Income* Tax Bracket Tax Bracket
$ 23,351 - 24,519 $ 39,001 - 49,038 28.% 32.32%
24,520 - 30,987 49,039 - 61,974 28 33.76
30,988 - 66,550 61,975 - 94,250 28 34.70
66,551 - 107,464 94,251 - 143,600 31 37.42
107,465 - 117,950 -- - -- 31 37.90
-- - -- 143,601 - 214,928 36 41.95
117,951 - 214,929 214,929 - 256,500 36 42.40
214,930 - 256,500 -- - -- 36 43.04
-- - -- 256,501 - 429,858 39.6 45.64
256,501 + 429,859 + 39.6 46.24
*Net taxable income after all exemptions, adjustments, and deductions.
These are based on rates currently applicable in 1995 and assume one
exemption for single filers and two exemptions for married couples filing
jointly.
MANAGEMENT CONTRACT. Effective August 1, 1994, FMR agreed to voluntarily
adopt the revised group fee rate schedule shown below for purposes of
calculating the group fee component of the management fee. The revised
schedule provides for lower management fees as total assets under
management increase, and it will be presented to shareholders for approval
at the next shareholder meeting.
The following information replaces the "Group Fee Rate" and "Effective
Annual Fee Rate" schedules found on page 28.
GROUP FEE RATE SCHEDULE
EFFECTIVE ANNUAL FEE RATES
Average Group Annualized Group Net Effective Annual Fee
Assets Rate Assets Rate
0 - $ 3 billion .3700% $ 0.5 billion .3700%
3 - 6 .3400 25 .2664
6 - 9 .3100 50 .2188
9 - 12 .2800 75 .1986
12 - 15 .2500 100 .1869
15 - 18 .2200 125 .1793
18 - 21 .2000 150 .1736
21 - 24 .1900 175 .1690
24 - 30 .1800 200 .1652
30 - 36 .1750 225 .1618
36 - 42 .1700 250 .1587
42 - 48 .1650 275 .1560
48 - 66 .1600 300 .1536
66 - 84 .1550 325 .1514
84 - 120 .1500 350 .1494
120 - 156 .1450 375 .1476
156 - 192 .1400 400 .1459
192 - 228 .1350
228 - 264 .1300
264 - 300 .1275
300 - 336 .1250
336 - 372 .1225
Over 372 .1200
CFRB-95-1
February
1, 1995
SPARTAN(Registered trademark) CALIFORNIA MUNICIPAL PORTFOLIOS
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED APRIL 18, 1994
The following table replaces the similar one on page 18.
1995 TAX RATES AND TAX EQUIVALENT YIELDS
Combined California
Single Return Joint Return Federal and Federal Effective
Taxable Income* Taxable Income* Tax Bracket Tax Bracket
$ 23,351 - 24,519 $ 39,001 - 49,038 28.% 32.32%
24,520 - 30,987 49,039 - 61,974 28 33.76
30,988 - 66,550 61,975 - 94,250 28 34.70
66,551 - 107,464 94,251 - 143,600 31 37.42
107,465 - 117,950 -- - -- 31 37.90
-- - -- 143,601 - 214,928 36 41.95
117,951 - 214,929 214,929 - 256,500 36 42.40
214,930 - 256,500 -- - -- 36 43.04
-- - -- 256,501 - 429,858 39.6 45.64
256,501 + 429,859 + 39.6 46.24
*Net taxable income after all exemptions, adjustments, and deductions.
These are based on rates currently applicable in 1995 and assume one
exemption for single filers and two exemptions for married couples filing
jointly.
SCRB-95-1 February 1, 1995
