Form N-CSRS - Certified Shareholder Report, Semi-Annual

MHF Western Asset Municipal High Income Fund Inc

MHF Western Asset Municipal High Income Fund Inc

Hot Features

News Western Asset Municipal High Income Fund Inc

Hot Features

News Western Asset Municipal High Income Fund Inc

Follow Feed

Optionen-Flow

Watchlist

Kürzlich von Ihnen besucht

Trends

Toplisten

Follow Feed

Optionen-Flow

Watchlist

Kürzlich von Ihnen besucht

Marktdaten

News

Werkzeuge

Märkte

Entdecken

Unternehmen

Geschäft

Popular

App herunterladen

Marktdaten

News

Werkzeuge

Märkte

Entdecken

Unternehmen

Geschäft

Popular

App herunterladen

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 811-05497

Western Asset Municipal High Income Fund Inc.

(Exact name of registrant as specified in charter)

620 Eighth Avenue, 47^th Floor, New York, NY 10018

(Address of principal executive offices) (Zip code)

George P. Hoyt.

Franklin Templeton

100 First Stamford Place

Stamford, CT 06902

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-888-777-0102

Date of fiscal year end: October 31

Date of reporting period: April 30, 2023

ITEM 1.

REPORT TO STOCKHOLDERS.

The Semi-Annual Report to Stockholders is filed herewith.

LOGO


Semi-Annual Report		April 30, 2023

WESTERN ASSET

MUNICIPAL HIGH INCOME

FUND INC. (MHF)

LOGO

INVESTMENT PRODUCTS: NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE


What’s inside
Letter from the chairman			III
Performance review			IV
Fund at a glance			1
Schedule of investments			2
Statement of assets and liabilities			19
Statement of operations			20
Statements of changes in net assets			21
Financial highlights			22
Notes to financial statements			23
Additional shareholder information			31
Dividend reinvestment plan			32

Fund objective

The Fund seeks high current income exempt from federal income taxes.

The Fund seeks to achieve its investment objective by investing primarily in intermediate-and long-term municipal debt securities issued by state and local governments (“municipal obligations”). However, the Fund may invest in municipal obligations of any maturity. The Fund may invest up to 100% of its assets in municipal obligations rated below investment grade (commonly referred to as “junk bonds”).


II		Western Asset Municipal High Income Fund Inc.

Letter from the chairman

LOGO

Dear Shareholder,

We are pleased to provide the semi-annual report of Western Asset Municipal High Income Fund Inc. for the six-month reporting period ended April 30, 2023. Please read on for Fund performance information during the Fund’s reporting period.

As always, we remain committed to providing you with excellent service and a full spectrum of investment choices. We also remain committed to supplementing the support you receive from your financial advisor. One way we accomplish this is through our website, www.franklintempleton.com. Here you can gain immediate access to market and investment information, including:

•

Fund prices and performance,

•

Market insights and commentaries from our portfolio managers, and

•

A host of educational resources.

We look forward to helping you meet your financial goals.

Sincerely,

LOGO

Jane Trust, CFA

Chairman, President and Chief Executive Officer

May 31, 2023


Western Asset Municipal High Income Fund Inc.		III

Performance review

For the six months ended April 30, 2023, Western Asset Municipal High Income Fund Inc. returned 7.35% based on its net asset value (“NAV”)i and 5.07% based on its New York Stock Exchange (“NYSE”) market price per share. The Fund’s unmanaged benchmark, the Bloomberg Municipal Bond Indexii, returned 7.65% for the same period.

Certain investors may be subject to the federal alternative minimum tax, and state and local taxes will apply. Capital gains, if any, are fully taxable. Please consult your personal tax or legal adviser.

The Fund has a practice of seeking to maintain a relatively stable level of distributions to shareholders. This practice has no impact on the Fund’s investment strategy and may reduce the Fund’s NAV. The Fund’s manager believes the practice helps maintain the Fund’s competitiveness and may benefit the Fund’s market price and premium/discount to the Fund’s NAV.

During this six-month period, the Fund made distributions to shareholders totaling $0.12 per share. As of April 30, 2023, the Fund estimates that all of the distributions were sourced from net investment income.* The performance table shows the Fund’s six-month total return based on its NAV and market price as of April 30, 2023. Past performance is no guarantee of future results.


Performance Snapshot as of April 30, 2023 (unaudited)
Price Per Share	6-Month Total Return**
$7.19 (NAV)		7.35	%†
$6.46 (Market Price)		5.07	%‡

All figures represent past performance and are not a guarantee of future results. Performance figures for periods shorter than one year represent cumulative figures and are not annualized.

** Total returns are based on changes in NAV or market price, respectively. Returns reflect the deduction of all Fund expenses, including management fees, operating expenses, and other Fund expenses. Returns do not reflect the deduction of brokerage commissions or taxes that investors may pay on distributions or the sale of shares.

† Total return assumes the reinvestment of all distributions, including returns of capital, if any, at NAV.

‡ Total return assumes the reinvestment of all distributions, including returns of capital, if any, in additional shares in accordance with the Fund’s Dividend Reinvestment Plan.

These estimates are not for tax purposes. The Fund will issue a Form 1099 with final composition of the distributions for tax purposes after year-end. A return of capital is not taxable and results in a reduction in the tax basis of a shareholder’s investment. For more information about a distribution’s composition, please refer to the Fund’s distribution press release or, if applicable, the Section 19 notice located in the press release section of our website, www.franklintempleton.com.


IV		Western Asset Municipal High Income Fund Inc.

Performance review (cont’d)

Looking for additional information?

The Fund is traded under the symbol “MHF” and its closing market price is available in most newspapers under the NYSE listings. The daily NAV is available online under the symbol “XMHFX” on most financial websites. Barron’s and The Wall Street Journal’s Monday edition both carry closed-end fund tables that provide additional information. In addition, the Fund issues a quarterly press release that can be found on most major financial websites as well as www.franklintempleton.com.

In a continuing effort to provide information concerning the Fund, shareholders may call 1-888-777-0102 (toll free), Monday through Friday from 8:00 a.m. to 5:30 p.m. Eastern Time, for the Fund’s current NAV, market price and other information.

Thank you for your investment in Western Asset Municipal High Income Fund Inc. As always, we appreciate that you have chosen us to manage your assets and we remain focused on achieving the Fund’s investment goals.

Sincerely,

LOGO

Jane Trust, CFA

Chairman, President and Chief Executive Officer

May 31, 2023

RISKS: The Fund is a diversified closed-end management investment company designed primarily as a long-term investment and not as a trading vehicle. The Fund is not intended to be a complete investment program and, due to the uncertainty inherent in all investments, there can be no assurance that the Fund will achieve its investment objective. The Fund’s common stock is traded on the New York Stock Exchange. Similar to stocks, the Fund’s share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value. Diversification does not assure against market loss. The Fund’s investments are subject to a number of risks, such as credit risk, inflation risk and interest rate risk. High yield bonds, known as “junk bonds,” involve greater credit and liquidity risks than investment grade bonds. As interest rates rise, bond prices fall, reducing the value of the Fund’s holdings. Municipal securities purchased by the Fund may be adversely affected by changes in the financial condition of municipal issuers and insurers, regulatory and political developments, uncertainties and public perceptions, and other factors. The Fund may invest in securities of other investment companies. To the extent it does, Fund stockholders will indirectly pay a portion of the operating costs of such companies, in addition to the expenses that the Fund bears directly in connection with its own operation. Investing in securities issued by other investment companies, including exchange-traded funds (“ETFs”) that invest primarily in municipal securities, involves risks


Western Asset Municipal High Income Fund Inc.		V

similar to those of investing directly in the securities in which those investment companies invest. The Fund may use derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses, and have a potentially large impact on Fund performance. The Fund may also invest in money market funds, including funds affiliated with the Fund’s manager and subadviser. The market values of securities or other assets will fluctuate, sometimes sharply and unpredictably, due to changes in general market conditions, overall economic trends or events, governmental actions or intervention, actions taken by the U.S. Federal Reserve or foreign central banks, market disruptions caused by trade disputes or other factors, political developments, armed conflicts, economic sanctions and countermeasures in response to sanctions, major cybersecurity events, investor sentiment, the global and domestic effects of a pandemic, and other factors that may or may not be related to the issuer of the security or other asset.

All investments are subject to risk including the possible loss of principal. Past performance is no guarantee of future results. All index performance reflects no deduction for fees, expenses or taxes. Please note that an investor cannot invest directly in an index.

Net asset value (“NAV”) is calculated by subtracting total liabilities, including liabilities associated with financial leverage (if any), from the closing value of all securities held by the Fund (plus all other assets) and dividing the result (total net assets) by the total number of the common shares outstanding. The NAV fluctuates with changes in the market prices of securities in which the Fund has invested. However, the price at which an investor may buy or sell shares of the Fund is the Fund’s market price as determined by supply of and demand for the Fund’s shares.

ii	The Bloomberg Municipal Bond Index is a market value weighted index of investment grade municipal bonds with maturities of one year or more.


VI		Western Asset Municipal High Income Fund Inc.

Fund at a glance^†(unaudited)

Investment breakdown (%) as a percent of total investments

LOGO

†	The bar graph above represents the composition of the Fund’s investments as of April 30, 2023 and October 31, 2022. The Fund is actively managed. As a result, the composition of the Fund’s investments is subject to change at any time.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					1

Schedule of investments (unaudited)

April 30, 2023

Western Asset Municipal High Income Fund Inc.


(Percentages shown based on Fund net assets)
Security	Rate			Maturity Date		Face Amount		Value
Municipal Bonds — 95.0%
Alabama — 5.4%
Alabama State Corrections Institution Finance Authority Revenue, Series A		5.250	%		7/1/52	$	500,000	$	538,501
Jefferson County, AL, Sewer Revenue:
Convertible CAB, Subordinated Lien, Warrants, Step bond, Series F, Refunding (0.000% to 10/1/23 then 7.900%)		0.000	%		10/1/50		3,020,000		3,118,919
Senior Lien, Warrants, Series A, Refunding, AGM		5.500	%		10/1/53		400,000		409,845
Subordinated Lien, Warrants, Series D, Refunding		6.000	%		10/1/42		1,120,000		1,184,493
Subordinated Lien, Warrants, Series D, Refunding		6.500	%		10/1/53		3,000,000		3,177,424
Total Alabama									8,429,182
Alaska — 0.9%
Anchorage, AK, Port Revenue, Series A		5.000	%		12/1/50		250,000		254,655	^(a)
Northern Tobacco Securitization Corp., AK, Tobacco Settlement Revenue:
Asset Backed Senior Bonds, Class 1, Series A		4.000	%		6/1/36		400,000		397,280
Asset Backed Senior Bonds, Class 1, Series A, Refunding		4.000	%		6/1/50		250,000		221,242
Asset Backed Senior Bonds, Class 2, Series B-1		4.000	%		6/1/50		500,000		499,308
Total Alaska									1,372,485
Arizona — 3.7%
Arizona, AZ, IDA Revenue, Doral Academy Of Northern Nevada Project, Series A, Refunding		4.000	%		7/15/51		500,000		377,421	^(b)
La Paz County, AZ, IDA Revenue, Charter School Solutions, Harmony Public School Project, Series A		5.000	%		2/15/36		1,000,000		1,015,096	^(b)
Maricopa County, AZ, IDA Revenue, Legacy Traditional Schools Project, Series 2019, Refunding		5.000	%		7/1/49		500,000		446,446	^(b)
Navajo Nation, AZ, Revenue, Series A, Refunding		5.500	%		12/1/30		190,000		197,108	^(b)
Phoenix, AZ, IDA Revenue:
Basis School Inc., Refunding		5.000	%		7/1/35		1,000,000		1,003,184	^(b)
Great Hearts Academies, Refunding		5.000	%		7/1/41		1,200,000		1,204,117
Salt Verde, AZ, Financial Corp., Natural Gas Revenue, Series 2007		5.000	%		12/1/37		1,500,000		1,556,102
Total Arizona									5,799,474

See Notes to Financial Statements.


2				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
California — 10.4%
Alameda, CA, Corridor Transportation Authority Revenue:
Convertible CAB, Series C, Refunding, AGM		5.000	%		10/1/52	$	600,000	$	652,703
Second Subordinated Lien, Series B, Refunding		5.000	%		10/1/34		500,000		519,872
Anaheim, CA, Public Financing Authority Lease Revenue, Series A, Refunding		5.000	%		5/1/46		2,000,000		2,039,192	^(c)
California State Community Choice Financing Authority Revenue, Clean Energy Project, Green Bonds, Series B-1		5.000	%		8/1/29		500,000		532,389	^(d)(e)
California State Community Housing Agency, Essential Housing Revenue, Stoneridge Apartments, Series A		4.000	%		2/1/56		500,000		371,343	^(b)
California State MFA Revenue, Senior Lien, LINXS APM Project, Series A		5.000	%		12/31/43		700,000		713,667	^(a)
California State PCFA Water Furnishing Revenue, San Diego County Water Authority Desalination Project, Refunding		5.000	%		7/1/39		700,000		715,529	^(b)
California State Public Finance Authority, Senior Living Revenue:
Enso Village Project, Green Bond, Series A		5.000	%		11/15/36		250,000		240,943
Enso Village Project, Green Bond, Series B-3, Refunding		2.125	%		11/15/27		250,000		237,717	^(b)
California Statewide CDA Revenue:
Provident Group-Pomona Properties LLC, Series A		5.600	%		1/15/36		500,000		499,995	^(b)
Provident Group-Pomona Properties LLC, Series A		5.750	%		1/15/45		360,000		359,990	^(b)
Inland Valley, CA, Development Agency, Successor Agency Tax Allocation Revenue, Series A, Refunding		5.000	%		9/1/44		500,000		502,963
Mountain House Public Financing Authority, CA, Utility Systems Revenue, Green Bond, Series A, BAM		4.000	%		12/1/45		750,000		734,791
M-S-R Energy Authority, CA, Natural Gas Revenue:
Series B		6.500	%		11/1/39		1,000,000		1,173,320
Series C		7.000	%		11/1/34		2,000,000		2,437,411
Series C		6.500	%		11/1/39		2,000,000		2,346,639
Redding, CA, Redevelopment Agency, Tax Allocation, Shastec Redevelopment Project		5.000	%		9/1/29		600,000		602,589

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					3

Schedule of investments (unaudited) (cont’d)

April 30, 2023

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
California — continued
River Islands, CA, Public Financing Authority, Special Tax Revenue, Community Facilities District No. 2003-1, Series A-1, Refunding, AGM		5.250	%		9/1/52	$	300,000	$	335,566
San Francisco, CA, City & County Airport Commission, International Airport Revenue, Second Series A, Refunding		5.000	%		5/1/47		1,000,000		1,020,887	^(a)
Tobacco Securitization Authority of Southern California Revenue, Asset Backed Refunding, San Diego County Tobacco Asset Securitization Corporation, Class 1, Series A		5.000	%		6/1/48		200,000		207,245
Total California									16,244,751
Colorado — 1.8%
Aristation Metropolitan District, CO, GO, Convertible Unlimited & Special Revenue, Refunding and Improvements		5.000	%		12/1/38		500,000		487,589
Colorado State Health Facilities Authority Revenue, Commonspirit Health Initiatives, Series B-2		5.000	%		8/1/26		250,000		259,792	^(d)(e)
Colorado State High Performance Transportation Enterprise Revenue, C-470 Express Lanes		5.000	%		12/31/51		150,000		147,676
North Range, CO, Metropolitan District #2, GO, Series A, Refunding		5.625	%		12/1/37		500,000		505,647
Public Authority for Colorado Energy, Natural Gas Purchase Revenue, Series 2008		6.125	%		11/15/23		955,000		965,502
Village Metropolitan District, CO, Limited & Special Revenue, Series 2020, Refunding and Improvements		5.000	%		12/1/40		500,000		482,184
Total Colorado									2,848,390
Connecticut — 0.8%
Connecticut State Special Tax Revenue, Transportation Infrastructure, Series A		5.000	%		1/1/37		500,000		540,711
Connecticut State, GO, Series A		4.000	%		4/15/37		600,000		615,605
Total Connecticut									1,156,316
Florida — 5.5%
Broward County, FL, Port Facilities Revenue:
Senior Bonds, Series B		4.000	%		9/1/44		1,250,000		1,198,761	^(a)
Senior Bonds, Series B		4.000	%		9/1/49		500,000		465,228	^(a)
Series 2022		5.500	%		9/1/52		1,000,000		1,084,409	^(a)
Florida State Development Finance Corp., Educational Facilities Revenue:
Mater Academy Projects, Series A		5.000	%		6/15/40		650,000		654,773

See Notes to Financial Statements.


4				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Florida — continued
Renaissance Charter School Inc. Projects, Series A		6.000	%		6/15/35	$	250,000	$	252,550	^(b)
Renaissance Charter School Inc. Projects, Series A		6.125	%		6/15/46		215,000		215,637	^(b)
Florida State Mid-Bay Bridge Authority Revenue, Series A, Refunding		5.000	%		10/1/28		500,000		513,570
Fort Pierce, FL, Utilities Authority Revenue, Series A, Refunding, AGM		4.000	%		10/1/52		150,000		142,793
Miami-Dade County, FL, Aviation Revenue, Series A, Refunding		5.000	%		10/1/49		650,000		668,831	^(a)
Miami-Dade County, FL, Seaport Revenue, Senior Bonds, Series A, Refunding		5.250	%		10/1/52		750,000		801,839	^(a)
Orange County, FL, Health Facilities Authority Revenue, Orlando Health Inc., Series A		5.000	%		10/1/53		250,000		265,023
Palm Beach County, FL, Health Facilities Authority Hospital Revenue:
Jupiter Medical Center Project, Series A		5.000	%		11/1/39		350,000		363,668
Jupiter Medical Center Project, Series A		5.000	%		11/1/47		1,515,000		1,531,655
Palm Beach County, FL, Health Facilities Authority Revenue:
Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, Refunding		4.000	%		6/1/41		100,000		77,923
Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, Series A		5.000	%		6/1/55		350,000		299,088
Reunion, FL, East Community Development District, Special Assessment Bond, Series A-2		7.375	%		5/1/33		285,000		3	*^(f)
Total Florida									8,535,751
Georgia — 0.8%
Georgia State Municipal Electric Authority Power Revenue:
Plant Vogtle Units 3&4, Project M, Series A		5.250	%		7/1/64		350,000		366,441
Plant Vogtle Units 3&4, Project P, Series A		5.000	%		1/1/56		250,000		249,167
Plant Vogtle Units 3&4, Project P, Series A		5.500	%		7/1/64		250,000		259,655
Project One Subordinated, Series A		5.000	%		1/1/45		250,000		260,514
Main Street Natural Gas Inc., GA, Gas Project Revenue, Series A		5.000	%		5/15/43		150,000		150,697
Total Georgia									1,286,474

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					5

Schedule of investments (unaudited) (cont’d)

April 30, 2023

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Illinois — 15.6%
Chicago, IL, Board of Education, Dedicated Capital Improvement, Special Tax Revenue, Series 2018		5.000	%		4/1/42	$	1,000,000	$	1,016,305
Chicago, IL, Board of Education, GO:
Dedicated, Series H		5.000	%		12/1/46		1,000,000		991,750
Series A		5.000	%		12/1/39		1,250,000		1,268,460
Series C, Refunding, AGM		5.000	%		12/1/32		250,000		268,748
Chicago, IL, GO:
Chicago Works, Series A		5.500	%		1/1/39		550,000		600,052
Series A		5.000	%		1/1/44		500,000		499,327
Series A, Refunding		5.000	%		1/1/28		500,000		529,783
Series A, Refunding		6.000	%		1/1/38		300,000		319,504
Series C, Refunding		5.000	%		1/1/25		500,000		511,427
Chicago, IL, O’Hare International Airport Revenue:
General Senior Lien, Series C, Refunding		5.000	%		1/1/44		500,000		525,472	^(a)
Senior Lien, Series G		5.000	%		1/1/42		500,000		510,500	^(a)
Series A, Refunding		5.000	%		1/1/31		1,500,000		1,529,780	^(a)
Chicago, IL, Transit Authority, Sales Tax Receipts Revenue:
Second Lien		5.000	%		12/1/51		1,000,000		1,018,874
Second Lien, Series A, Refunding		5.000	%		12/1/45		500,000		518,467
Chicago, IL, Wastewater Transmission Revenue:
Second Lien, Series A		5.000	%		1/1/47		300,000		302,535
Second Lien, Series B, Refunding		5.000	%		1/1/38		500,000		509,794
Chicago, IL, Waterworks Revenue:
Second Lien, Series 2017, Refunding		5.000	%		11/1/29		500,000		528,725
Second Lien, Series 2017-2, Refunding, AGM		5.000	%		11/1/32		1,260,000		1,358,320
Illinois State Finance Authority, Revenue, Franciscan Communities Inc.:
Series A, Refunding		5.250	%		5/15/47		130,000		130,083	^(c)
Series A, Refunding		5.250	%		5/15/47		870,000		844,552
Illinois State Sports Facilities Authority Revenue, Sport Facilities Project, Series 2019, Refunding, BAM		5.000	%		6/15/29		250,000		266,856
Illinois State University, Auxiliary Facilities System Revenue, Series A, Refunding, AGM		5.000	%		4/1/28		100,000		109,346
Illinois State, GO:
Series 2016, Refunding		5.000	%		2/1/29		300,000		318,139
Series A		5.000	%		3/1/37		1,250,000		1,351,016

See Notes to Financial Statements.


6				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Illinois — continued
Series A		5.000	%		3/1/46	$	500,000	$	525,068
Series A, Refunding		5.000	%		10/1/29		1,100,000		1,194,717
Series A, Refunding		5.000	%		10/1/30		550,000		596,582
Series B, Refunding		5.000	%		9/1/27		400,000		427,882
Series D		5.000	%		11/1/27		1,150,000		1,233,349
Metropolitan Pier & Exposition Authority, IL, Revenue:
McCormick Place Expansion Project, Series A		5.000	%		6/15/57		350,000		352,331
McCormick Place Expansion Project, Series A, Refunding		4.000	%		12/15/42		750,000		688,234
McCormick Place Expansion Project, Series A, Refunding		4.000	%		12/15/47		1,000,000		883,779
McCormick Place Expansion Project, Series A, Refunding		5.000	%		6/15/50		250,000		252,793
McCormick Place Expansion Project, Series B, Refunding		5.000	%		6/15/42		1,250,000		1,284,176
Regional Transportation Authority, IL, GO, Series A, Refunding, NATL		6.000	%		7/1/29		930,000		1,055,781
Total Illinois									24,322,507
Indiana — 2.1%
Indiana State Finance Authority Revenue:
BHI Senior Living Inc., Series A, Refunding		4.000	%		11/15/41		500,000		402,497
Marion General Hospital, Series A		4.000	%		7/1/45		200,000		194,597
Midwestern Disaster Relief, Ohio Valley Electric Corp. Project, Series A		4.250	%		11/1/30		200,000		200,325
Private Activity Ohio River Bridges East End Crossing Project, Series A		5.000	%		7/1/48		2,000,000		2,005,048	^(a)(c)
Valparaiso, IN, Exempt Facilities Revenue, Pratt Paper LLC Project		7.000	%		1/1/44		500,000		509,826	^(a)
Total Indiana									3,312,293
Iowa — 1.0%
Iowa State Finance Authority Revenue:
Midwestern Disaster Area, Iowa Fertilizer Co. Project, Refunding		5.000	%		12/1/42		750,000		753,371	^(d)(e)
Midwestern Disaster Area, Iowa Fertilizer Co. Project, Refunding		5.000	%		12/1/50		700,000		695,823
Iowa State Tobacco Settlement Authority Revenue, Asset Backed Senior Bonds, Class 1, Series A-2, Refunding		4.000	%		6/1/49		150,000		135,140
Total Iowa									1,584,334

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					7

Schedule of investments (unaudited) (cont’d)

April 30, 2023

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Kentucky — 1.9%
Kentucky State PEA, Gas Supply Revenue:
Series A		4.000	%		6/1/26	$	1,500,000	$	1,504,082	^(d)(e)
Series C		4.000	%		6/1/25		1,400,000		1,402,328	^(d)(e)
Total Kentucky									2,906,410
Louisiana — 1.2%
Louisiana State PFA, Lease Revenue:
Provident Group, Flagship Properties		5.000	%		7/1/42		700,000		719,219
Provident Group, Flagship Properties, Series A		4.000	%		7/1/49		500,000		452,734
St. John the Baptist Parish, LA, State Revenue:
Marathon Oil Corp. Project, Series A-3, Refunding		2.200	%		7/1/26		400,000		376,518	^(d)(e)
Marathon Oil Corp. Project, Series B-2, Refunding		2.375	%		7/1/26		250,000		236,607	^(d)(e)
Total Louisiana									1,785,078
Maryland — 0.7%
Maryland State EDC Revenue:
Morgan State University Project		4.250	%		7/1/50		350,000		310,256
Seagirt Marine Terminal Project, Series A		5.000	%		6/1/44		400,000		411,830	^(a)
Maryland State Health & Higher EFA Revenue, Frederick Health System		4.000	%		7/1/40		300,000		284,595
Total Maryland									1,006,681
Massachusetts — 1.2%
Massachusetts State DFA Revenue:
Boston Medical Center, Sustainability Bonds, Series G, Refunding		5.250	%		7/1/52		500,000		525,414
Northeastern University Issue, Refunding		5.000	%		10/1/44		500,000		560,166
Wellforce Issue, Series A, Refunding		5.000	%		7/1/36		500,000		512,914
Wellforce Issue, Series A, Refunding		5.000	%		7/1/44		250,000		247,440
Total Massachusetts									1,845,934
Michigan — 0.6%
Detroit, MI, Downtown Development Authority Revenue, Catalyst Development, Series A, Refunding, AGM		5.000	%		7/1/43		250,000		250,429
Michigan State Finance Authority Revenue:
Henry Ford Health System, Series A		4.000	%		11/15/50		400,000		362,772
Tobacco Settlement Asset Backed Senior Bonds, Series B-1, Refunding		5.000	%		6/1/49		80,000		81,666
Michigan State Strategic Fund Limited Obligation Revenue, I-75 Improvement Project		5.000	%		12/31/43		250,000		252,318	^(a)
Total Michigan									947,185

See Notes to Financial Statements.


8				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Missouri — 1.7%
Missouri State HEFA Revenue, Senior Living Facilities, Lutheran Senior Services, Refunding		5.000	%		2/1/44	$	750,000	$	689,951
St. Louis County, MO, IDA, Senior Living Facilities Revenue, Friendship Village of Sunset Hills, Series A		5.875	%		9/1/43		2,000,000		2,001,423
Total Missouri									2,691,374
Nebraska — 0.3%
Omaha Public Power District, NE, Electric System Revenue, Series B, Refunding		4.000	%		2/1/46		500,000		492,721
Nevada — 0.5%
State of Nevada Department of Business & Industry Revenue:
Charter School Lease Revenue, Somerset Academy, Series A		5.000	%		12/15/35		300,000		295,298	^(b)
Charter School Lease Revenue, Somerset Academy, Series A		5.125	%		12/15/45		500,000		459,269	^(b)
Total Nevada									754,567
New Jersey — 7.9%
Gloucester County, NJ, PCFA Revenue, Keystone Urban Renewal, Logan Generating, Series A, Refunding		5.000	%		12/1/24		185,000		186,593	^(a)(g)
New Jersey State EDA Revenue:
Private Activity-The Goethals Bridge Replacement Project		5.375	%		1/1/43		1,500,000		1,505,348	^(a)
Special Facility, Port Newark Container Terminal LLC Project, Refunding		5.000	%		10/1/37		125,000		125,584	^(a)
Transit Transportation Project, Series A		5.000	%		11/1/32		1,500,000		1,663,150
New Jersey State Health Care Facilities Financing Authority Revenue, Hackensack Meridian Health, Series A, Refunding		5.000	%		7/1/38		100,000		105,986
New Jersey State Higher Education, Student Assistance Authority Revenue, Subordinated, Series B-1		5.000	%		12/1/44		640,000		628,455	^(a)
New Jersey State Transportation Trust Fund Authority Revenue:
Transportation Program, Series AA		5.250	%		6/15/32		4,720,000		4,923,511
Transportation Program, Series BB		5.000	%		6/15/44		1,000,000		1,049,378
New Jersey State, GO, COVID-19 Emergency, Series A		5.000	%		6/1/28		1,250,000		1,394,333

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					9

Schedule of investments (unaudited) (cont’d)

April 30, 2023

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
New Jersey — continued
Salem County, NJ, PCFA Revenue, Chambers Project, Series A, Refunding		5.000	%		12/1/23	$	530,000	$	532,851	^(a)(g)
Tobacco Settlement Financing Corp., NJ, Revenue, Series A, Refunding		5.250	%		6/1/46		150,000		156,924
Total New Jersey									12,272,113
New Mexico — 0.1%
Santa Fe, NM, Retirement Facilities Revenue, EL Castillo Retirement Residences Project, Series A		5.000	%		5/15/49		250,000		205,640
New York — 6.2%
Brookhaven, NY, Local Development Corp., Long Island Community Hospital Project, Series A		5.000	%		10/1/34		735,000		807,038
Build NYC Resource Corp., NY, Revenue, East Harlem Scholars Academy Charter School Project		5.750	%		6/1/62		300,000		302,934	^(b)
MTA, NY, Transportation Revenue:
Green Bonds, Series E, Refunding		5.000	%		11/15/30		250,000		271,883
Green Bonds, Series E, Refunding		4.000	%		11/15/45		250,000		236,546
Series A-2		5.000	%		5/15/30		400,000		436,397	^(d)(e)
New York City, NY, GO, Subseries A-1		4.000	%		8/1/40		750,000		751,899
New York City, NY, Industrial Development Agency Revenue, Yankee Stadium Project, Refunding		4.000	%		3/1/45		300,000		277,818
New York State Dormitory Authority Revenue, Non-State Supported Debt, Memorial Sloan- Kettering Cancer Center, Series B-1		4.000	%		7/1/51		500,000		477,735
New York State Liberty Development Corp., Liberty Revenue:
3 World Trade Center Project, Class 1, Refunding		5.000	%		11/15/44		1,205,000		1,170,929	^(b)
7 World Trade Center Project, Class 3, Refunding		3.500	%		9/15/52		700,000		540,813
New York State Thruway Authority General Revenue, Junior Indebtedness Obligations, Junior Lien, Series B		4.000	%		1/1/45		750,000		725,353
New York State Transportation Development Corp., Special Facilities Revenue:
Delta Air Lines Inc., LaGuardia Airport Terminals C and D Redevelopment Project		5.000	%		1/1/33		750,000		785,796	^(a)
Delta Air Lines Inc., LaGuardia Airport Terminals C and D Redevelopment Project		4.375	%		10/1/45		250,000		238,473	^(a)
John F. Kennedy International Airport Terminal 4 Project, Series C, Refunding		4.000	%		12/1/42		500,000		480,158

See Notes to Financial Statements.


10				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)



Security	Rate			Maturity Date		Face Amount		Value
New York — continued
LaGuardia Airport Terminal B Redevelopment Project, Series A		5.000	%		7/1/41	$	300,000	$	300,625	^(a)
LaGuardia Airport Terminal B Redevelopment Project, Series A		5.000	%		7/1/46		500,000		496,780	^(a)
Port Authority of New York & New Jersey Revenue, Consolidated Series 221		4.000	%		7/15/45		1,000,000		949,348	^(a)
Troy Capital Resource Corp., NY, Revenue, Rensselaer Polytechnic Institute Project, Series A, Refunding		4.000	%		9/1/40		500,000		471,152
Total New York									9,721,677
North Carolina — 0.3%
North Carolina State Turnpike Authority, Monroe Expressway Toll Revenue, Series A, Refunding		5.000	%		7/1/47		500,000		506,175
North Dakota — 0.3%
Grand Forks, ND, Health Care System Revenue, Altru Health System, Refunding, AGM		3.000	%		12/1/46		600,000		464,280
Ohio — 1.1%
Buckeye, OH, Tobacco Settlement Financing Authority Revenue, Senior Bonds, Series B-2, Refunding		5.000	%		6/1/55		800,000		746,811
Ohio State Air Quality Development Authority Revenue, American Electric Co. Project, Series B, Refunding		2.500	%		10/1/29		350,000		308,762	^(a)(d)(e)
Ohio State Private Activity Revenue, Portsmouth Bypass Project		5.000	%		6/30/53		700,000		690,247	^(a)
Total Ohio									1,745,820
Oklahoma — 0.3%
Tulsa County, OK, Industrial Authority, Senior Living Community Revenue, Montereau Inc. Project, Refunding		5.250	%		11/15/37		500,000		509,064
Oregon — 0.3%
Clackamas County, OR, Hospital Facility Authority Revenue, Senior Living, Willamette View Project, Refunding		5.000	%		11/15/37		500,000		475,671
Pennsylvania — 6.4%
Allegheny County, PA, HDA Revenue, University Pittsburgh Medical Center, Series A, Refunding		4.000	%		7/15/39		350,000		347,904
Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment Revenue Bonds, Series 2018		5.000	%		6/1/33		200,000		216,847

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					11

Schedule of investments (unaudited) (cont’d)

April 30, 2023

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Pennsylvania — continued
Cumberland County, PA, Municipal Authority Revenue:
Diakon Lutheran Social Ministries 2015, Refunding		5.000	%		1/1/28	$	45,000	$	46,485	^(c)
Diakon Lutheran Social Ministries 2015, Refunding		5.000	%		1/1/28		105,000		108,465	^(c)
Diakon Lutheran Social Ministries 2015, Refunding		5.000	%		1/1/28		200,000		201,829
Erie County, PA, Convention Center Authority Guaranteed Hotel Revenue, County Guaranty, Refunding		5.000	%		1/15/36		750,000		766,052
Lancaster County, PA, Convention Center Authority Revenue, Hotel Room Rental Tax:
Series B, Refunding		4.000	%		5/1/49		250,000		240,096
Series B, Refunding		4.750	%		5/1/57		500,000		508,778
Lancaster, PA, IDA Revenue, Willow Valley Communities Project		5.000	%		12/1/49		500,000		512,330
Pennsylvania State Economic Development Financing Authority Revenue, Tax-Exempt Private Activity, The Penndot Major Bridges Package One Project		5.250	%		6/30/53		2,400,000		2,488,206	^(a)
Pennsylvania State Turnpike Commission Revenue, Subordinated, Series B, Refunding		5.000	%		6/1/39		3,170,000		3,287,878
Philadelphia, PA, Authority for IDR:
Charter School Revenue, A String Theory Charter School Project		5.000	%		6/15/40		400,000		401,770
City Service Agreement Revenue, Rebuild Project		5.000	%		5/1/38		500,000		532,617
Lease Revenue, Refunding		5.000	%		10/1/30		250,000		287,231
Total Pennsylvania									9,946,488
Puerto Rico — 4.1%
Puerto Rico Commonwealth Highway & Transportation Authority Revenue:
CAB, Restructured, Series B		0.000	%		7/1/32		145,000		91,169
Restructured, Series A		5.000	%		7/1/62		160,000		154,528
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue:
CAB, Restructured, Series A-1		0.000	%		7/1/27		240,000		199,000
CAB, Restructured, Series A-1		0.000	%		7/1/46		1,220,000		333,364
Restructured, Series A-1		4.550	%		7/1/40		50,000		47,886

See Notes to Financial Statements.


12				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Puerto Rico — continued
Restructured, Series A-1		4.750	%		7/1/53	$	3,020,000	$	2,831,450
Restructured, Series A-1		5.000	%		7/1/58		880,000		849,730
Restructured, Series A-2		4.329	%		7/1/40		530,000		494,123
Restructured, Series A-2A		4.550	%		7/1/40		1,380,000		1,321,660
Total Puerto Rico									6,322,910
South Carolina — 0.3%
South Carolina State Jobs-EDA Hospital Facilities Revenue, Bon Secours Mercy Health Inc., Series A, Refunding		4.000	%		12/1/44		400,000		394,919
Tennessee — 0.6%
Clarksville, TN, Water, Sewer & Gas Revenue, Series A		4.000	%		2/1/51		500,000		486,629
Tennessee State Energy Acquisition Corp., Natural Gas Revenue, Series 2018		4.000	%		11/1/25		400,000		400,144	^(d)(e)
Total Tennessee									886,773
Texas — 6.0%
Arlington, TX, Higher Education Finance Corp., Education Revenue, Uplift Education, Series A		5.000	%		12/1/46		200,000		200,271
Arlington, TX, Special Tax Revenue, Subordinated Lien, Series C, BAM		5.000	%		2/15/41		500,000		510,778
Austin, TX, Airport System Revenue:
Series 2022		5.000	%		11/15/52		300,000		313,250	^(a)
Series B		5.000	%		11/15/39		600,000		635,249	^(a)
Central Texas Regional Mobility Authority Revenue, Senior Lien, Series B		4.000	%		1/1/51		500,000		457,453
Gulf Coast, TX, IDA, Solid Waste Disposal Revenue, Citgo Petroleum Corp. Project		4.875	%		5/1/25		1,000,000		994,281	^(a)
Love Field, TX, Airport Modernization Corp., General Airport Revenue:
Series 2017		5.000	%		11/1/33		20,000		20,877	^(a)
Series 2017		5.000	%		11/1/36		20,000		20,634	^(a)
New Hope Cultural Education Facilities Finance Corp., TX, Retirement Facility Revenue:
MRC Crestview, Refunding		5.000	%		11/15/36		550,000		575,615	^(c)
Westminster Manor Project		4.000	%		11/1/49		400,000		295,352
Westminster Manor Project, Refunding		5.000	%		11/1/40		1,000,000		952,907
New Hope Cultural Education Facilities Finance Corp., TX, Student Housing Revenue, Collegiate Housing Stephenville II LLC, Tartleton State University Project, Series A		5.000	%		4/1/39		1,165,000		1,182,531	^(c)

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					13

Schedule of investments (unaudited) (cont’d)

April 30, 2023

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Texas — continued
Newark, TX, Higher Education Finance Corp., Education Revenue, TLC Academy, Series A		4.000	%		8/15/56	$	350,000	$	262,125
Tarrant County, TX, Cultural Education Facilities Finance Corp., Retirement Facility Revenue, Buckner Retirement Services Inc. Project, Refunding		5.000	%		11/15/37		700,000		707,034
Texas State, Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue, Senior Lien, Series D		6.250	%		12/15/26		550,000		574,699
Texas State Private Activity Bond Surface Transportation Corp. Revenue:
Senior Lien, Blueridge Transportation Group LLC		5.000	%		12/31/40		1,000,000		1,009,112	^(a)
Senior Lien, Blueridge Transportation Group LLC		5.000	%		12/31/50		500,000		500,281	^(a)
Willacy County, TX, Jail Public Facilities Corp. Project Revenue		7.500	%		11/1/25		210,000		186,649
Total Texas									9,399,098
Utah — 0.8%
Utah State Charter School Finance Authority, Charter School Revenue:
Summit Academy Inc., Series A, Refunding, UT CSCE		5.000	%		4/15/39		350,000		366,287
Syracuse Arts Academy Project, UT CSCE		5.000	%		4/15/42		250,000		254,718
Utah State Infrastructure Agency, Telecommunications Revenue, Series A		5.250	%		10/15/33		550,000		569,380
Total Utah									1,190,385
Virginia — 1.3%
Virginia State Port Authority, Port Facilities Revenue:
Series B, Refunding		5.000	%		7/1/41		250,000		256,615	^(a)
Series B, Refunding		5.000	%		7/1/45		300,000		306,418	^(a)
Virginia State Small Business Financing Authority Revenue:
National Senior Campuses, Inc., Series A, Refunding		5.000	%		1/1/34		200,000		215,323
Senior Lien, 95 Express Lanes LLC Project, Refunding		5.000	%		1/1/37		1,000,000		1,045,708	^(a)
Senior Lien, I-495 HOT Lanes Project, Refunding		5.000	%		12/31/47		250,000		252,194	^(a)
Total Virginia									2,076,258

See Notes to Financial Statements.


14				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Washington — 0.9%
Port of Seattle, WA, Intermediate Lien Revenue, Series 2022, Refunding		5.000	%		8/1/41	$	500,000	$	537,986	^(a)
Washington State Health Care Facilities Authority Revenue:
Commonspirit Health, Series A-1, Refunding		4.000	%		8/1/44		535,000		503,582
Seattle Cancer Care Alliance		4.000	%		12/1/40		370,000		364,933
Total Washington									1,406,501
Wisconsin — 2.0%
Public Finance Authority, WI, Revenue:
Carmelite System Inc., Obligated Group, Series 2020, Refunding		5.000	%		1/1/40		100,000		97,782
Celanese Project, Series B, Refunding		5.000	%		12/1/25		550,000		558,618	^(a)
Cone Health, Series A		5.000	%		10/1/52		300,000		314,520
Public Finance Authority, WI, Student Housing Revenue:
Appalachian State University Project, Series A, AGM		4.000	%		7/1/45		600,000		572,106
CHF Wilmington LLC, University of North Carolina at Wilmington Project, AGM		5.000	%		7/1/53		1,000,000		1,034,370
University of Hawai’i Foundation Project, Green Bonds, Series A-1		4.000	%		7/1/51		280,000		213,625	^(b)
Wisconsin State HEFA Revenue, Bellin Memorial Hospital Inc., Series A		5.500	%		12/1/52		250,000		273,407
Total Wisconsin									3,064,428
Total Municipal Bonds (Cost — $149,416,290)									147,910,107
Municipal Bonds Deposited in Tender Option Bond Trust ^(h)— 2.1%
New York — 2.1%
New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, Second General Resolution Fiscal 2023, Subseries AA-1		5.250	%		6/15/52		1,440,000		1,610,761
New York State Dormitory Authority, State Personal Income Tax Revenue, Series A		4.000	%		3/15/45		1,740,000		1,717,945
Total Municipal Bonds Deposited in Tender Option Bond Trust (Cost — $3,285,630)									3,328,706
Total Investments before Short-Term Investments (Cost — $152,701,920)									151,238,813

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					15

Schedule of investments (unaudited) (cont’d)

April 30, 2023

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)


Security	Rate			Maturity Date		Face Amount		Value
Short-Term Investments — 2.9%
Municipal Bonds — 2.9%
Mississippi — 1.6%
Mississippi State Business Finance Corp., Gulf Opportunity Zone, IDR:
Chevron USA Inc. Project, Series B		3.750	%		12/1/30	$	1,050,000	$	1,050,000	^(i)(j)
Chevron USA Inc. Project, Series B		3.750	%		11/1/35		100,000		100,000	^(i)(j)
Chevron USA Inc. Project, Series C		3.750	%		12/1/30		100,000		100,000	^(i)(j)
Chevron USA Inc. Project, Series G		3.750	%		11/1/35		1,175,000		1,175,000	^(i)(j)
Total Mississippi									2,425,000
Nevada — 0.2%
Nevada State Housing Division, Multi Unit Housing Revenue, Series A, LIQ - FNMA, LOC - FNMA		3.800	%		4/15/33		350,000		350,000	^(a)(i)(j)
New York — 0.2%
New York City, NY, TFA, Revenue Future Tax Secured, Subseries A, Refunding, SPA - TD Bank N.A.		3.750	%		11/1/29		200,000		200,000	^(i)(j)
New York State Housing Finance Agency Revenue, 350 West 43rd Street, Series A LOC - Landesbank Hessen - Thueringen		3.720	%		11/1/34		150,000		150,000	^(a)(i)(j)
Total New York									350,000
North Carolina — 0.3%
North Carolina Educational Facilities Finance Agency Revenue, Duke University, Series A		3.750	%		6/1/27		400,000		400,000	^(i)(j)
Pennsylvania — 0.6%
Pennsylvania State Turnpike Commission Revenue, Series 2020, Refunding, LOC - TD Bank N.A.		3.950	%		12/1/39		100,000		100,000	^(i)(j)
Philadelphia, PA, Authority for IDR, Gift of Life Donor Program Project, LOC - TD Bank N.A.		4.000	%		12/1/34		900,000		900,000	^(i)(j)
Total Pennsylvania									1,000,000
Total Municipal Bonds (Cost — $4,525,000)									4,525,000

See Notes to Financial Statements.


16				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Western Asset Municipal High Income Fund Inc.

(Percentages shown based on Fund net assets)

Security

Rate

Value

Money Market Funds — 0.0%††

Western Asset Premier Institutional Government Reserves, Premium Shares (Cost — $37,397)

4.808

37,397

37,397

^(k)(l)

Total Short-Term Investments (Cost — $4,562,397)

4,562,397

Total Investments — 100.0% (Cost — $157,264,317)

155,801,210

TOB Floating Rate Notes — (1.2)%

(1,830,000

)

Other Assets in Excess of Other Liabilities — 1.2%

1,781,389

Total Net Assets — 100.0%

155,752,599

††	Represents less than 0.1%.

^*	Non-income producing security.

^(a)	Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (“AMT”).

^(b)

Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

^(c)	Pre-Refunded bonds are generally escrowed with U.S. government obligations and/or U.S. government agency securities.

^(d)	Maturity date shown represents the mandatory tender date.

^(e)

Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

^(f)	The coupon payment on this security is currently in default as of April 30, 2023.

^(g)	Bonds are generally escrowed to maturity by government securities and/or U.S. government agency securities.

^(h)	Represents securities deposited into a special purpose entity, referred to as a Tender Option Bond (“TOB”) trust (Note 1).

⁽ⁱ⁾

Variable rate demand obligations (“VRDOs”) have a demand feature under which the Fund can tender them back to the issuer or liquidity provider on no more than 7 days notice. The interest rate generally resets on a daily or weekly basis and is determined on the specific interest rate reset date by the remarketing agent, pursuant to a formula specified in official documents for the VRDO, or set at the highest rate allowable as specified in official documents for the VRDO. VRDOs are benchmarked to the Securities Industry and Financial Markets Association (“SIFMA”) Municipal Swap Index. The SIFMA Municipal Swap Index is compiled from weekly interest rate resets of tax-exempt VRDOs reported to the Municipal Securities Rulemaking Board’s Short-term Obligation Rate Transparency System.

^(j)	Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity.

^(k)	Rate shown is one-day yield as of the end of the reporting period.

^(l)

In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At April 30, 2023, the total market value of investments in Affiliated Companies was $37,397 and the cost was $37,397 (Note 7).

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					17

Schedule of investments (unaudited) (cont’d)

April 30, 2023

Western Asset Municipal High Income Fund Inc.


Abbreviation(s) used in this schedule:

AGM		— Assured Guaranty Municipal Corporation — Insured Bonds

BAM		— Build America Mutual — Insured Bonds

CAB		— Capital Appreciation Bonds

CDA		— Communities Development Authority

CSCE		— Charter School Credit Enhancement

DFA		— Development Finance Agency

EDA		— Economic Development Authority

EDC		— Economic Development Corporation

EFA		— Educational Facilities Authority

FNMA		— Federal National Mortgage Association

GO		— General Obligation

HDA		— Housing Development Authority

HEFA		— Health & Educational Facilities Authority

IDA		— Industrial Development Authority

IDR		— Industrial Development Revenue

LIQ		— Liquidity Facility

LOC		— Letter of Credit

MFA		— Municipal Finance Authority

MTA		— Metropolitan Transportation Authority

NATL		— National Public Finance Guarantee Corporation — Insured Bonds

PCFA		— Pollution Control Financing Authority

PEA		— Public Energy Authority

PFA		— Public Facilities Authority

SPA		— Standby Bond Purchase Agreement — Insured Bonds

TFA		— Transitional Finance Authority

See Notes to Financial Statements.


18				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Statement of assets and liabilities (unaudited)

April 30, 2023



Assets:
Investments in unaffiliated securities, at value (Cost — $157,226,920)	$	155,763,813
Investments in affiliated securities, at value (Cost — $37,397)		37,397
Interest receivable		2,399,940
Dividends receivable from affiliated investments		250
Prepaid expenses		348
*Total Assets*		*158,201,748*

Liabilities:
TOB Floating Rate Notes (Note 1)		1,830,000
Distributions payable		428,694
Investment management fee payable		70,635
Interest expense payable		18,512
Directors’ fees payable		2,507
Accrued expenses		98,801
*Total Liabilities*		*2,449,149*
Total Net Assets	$	155,752,599

Net Assets:
Par value ($0.01 par value; 21,651,223 shares issued and outstanding; 500,000,000 shares authorized)	$	216,512
Paid-in capital in excess of par value		163,604,428
Total distributable earnings (loss)		(8,068,341)
Total Net Assets	$	155,752,599

Shares Outstanding		21,651,223

Net Asset Value	$	7.19

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					19

Statement of operations (unaudited)

For the Six Months Ended April 30, 2023



Investment Income:
Interest	$	3,296,836
Dividends from affiliated investments		1,076
*Total Investment Income*		*3,297,912*

Expenses:
Investment management fee (Note 2)		421,905
Interest expense (Note 1)		29,288
Transfer agent fees		28,124
Directors’ fees		24,579
Audit and tax fees		22,845
Legal fees		17,368
Fund accounting fees		11,812
Shareholder reports		6,383
Stock exchange listing fees		5,371
Custody fees		936
Insurance		505
Miscellaneous expenses		2,920
*Total Expenses*		*572,036*
Less: Fee waivers and/or expense reimbursements (Note 2)		(23)
*Net Expenses*		*572,013*
Net Investment Income		2,725,899

Realized and Unrealized Gain (Loss) on Investments (Notes 1 and 3):
*Net Realized Loss From Unaffiliated Investment Transactions*		*(319,097)*
*Change in Net Unrealized Appreciation (Depreciation) From Unaffiliated Investments*		*8,492,577*
Net Gain on Investments		8,173,480
Increase in Net Assets From Operations	$	10,899,379

See Notes to Financial Statements.


20				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Statements of changes in net assets


For the Six Months Ended April 30, 2023 (unaudited) and the Year Ended October 31, 2022	2023		2022

Operations:
Net investment income	$	2,725,899	$	5,554,930
Net realized loss		(319,097)		(2,144,016)
Change in net unrealized appreciation (depreciation)		8,492,577		(24,192,774)
*Increase (Decrease) in Net Assets From Operations*		*10,899,379*		*(20,781,860)*

Distributions to Shareholders From (Note 1):
Total distributable earnings		(2,572,165)		(5,187,479)
*Decrease in Net Assets From Distributions to Shareholders*		*(2,572,165)*		*(5,187,479)*

Fund Share Transactions:
Reinvestment of distributions (0 and 7,553 shares issued, respectively)		—		60,893
*Increase in Net Assets From Fund Share Transactions*		—		*60,893*
*Increase (Decrease) in Net Assets*		*8,327,214*		*(25,908,446)*

Net Assets:
Beginning of period		147,425,385		173,333,831
End of period	$	155,752,599	$	147,425,385

See Notes to Financial Statements.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					21

Financial highlights


For a share of capital stock outstanding throughout each year ended October 31, unless otherwise noted:
	2023^1,2			2022¹			2021¹			2020¹			2019¹			2018¹

Net asset value, beginning of period		$6.81			$8.01			$7.86			$8.04			$7.66			$7.93

Income (loss) from operations:
Net investment income		0.13			0.26			0.26			0.27			0.30			0.32
Net realized and unrealized gain (loss)		0.37			(1.22)			0.15			(0.16)			0.39			(0.28)
*Total income (loss) from operations*		*0.50*			*(0.96)*			*0.41*			*0.11*			*0.69*			*0.04*

Less distributions from:
Net investment income		(0.12)	³		(0.24)			(0.26)			(0.29)			(0.31)			(0.31)
*Total distributions*		*(0.12)*			*(0.24)*			*(0.26)*			*(0.29)*			*(0.31)*			*(0.31)*

Net asset value, end of period		$7.19			$6.81			$8.01			$7.86			$8.04			$7.66

Market price, end of period		$6.46			$6.26			$8.44			$7.19			$7.64			$6.91
*Total return, based on NAV^4,5*		*7.35*	%		*(12.20)*	%		*5.25*	%		*1.43*	%		*9.12*	%		*0.45*	%
*Total return, based on Market Price⁶*		*5.07*	%		*(23.25)*	%		*21.33*	%		*(2.15)*	%		*15.20*	%		*(3.76)*	%

Net assets, end of period (millions)		$156			$147			$173			$170			$174			$166

Ratios to average net assets:
Gross expenses		0.75	%⁷		0.72	%		0.71	%		0.71	%		0.68	%		0.68	%
Net expenses		0.75	^7,8,9		0.72	^8,9		0.71	^8,9		0.71	⁸		0.68			0.68
Net investment income		3.55	⁷		3.42			3.16			3.43			3.86			4.09

Portfolio turnover rate		6	%		25	%		14	%		27	%		16	%		13	%

¹	Per share amounts have been calculated using the average shares method.

²	For the six months ended April 30, 2023 (unaudited).

³	The actual source of the Fund’s current fiscal year distributions may be from net investment income, return of capital or a combination of both. Shareholders will be informed of the tax characteristics of the distributions after the close of the fiscal year.

⁴

Performance figures may reflect compensating balance arrangements, fee waivers and/or expense reimbursements. In the absence of compensating balance arrangements, fee waivers and/or expense reimbursements, the total return would have been lower. Past performance is no guarantee of future results. Total returns for periods of less than one year are not annualized.

⁵	The total return calculation assumes that distributions are reinvested at NAV. Past performance is no guarantee of future results. Total returns for periods of less than one year are not annualized.

⁶	The total return calculation assumes that distributions are reinvested in accordance with the Fund’s dividend reinvestment plan. Past performance is no guarantee of future results. Total returns for periods of less than one year are not annualized.

⁷	Annualized.

⁸	Reflects fee waivers and/or expense reimbursements.

⁹	The manager has agreed to waive the Fund’s management fee to an extent sufficient to offset the net management fee payable in connection with any investment in an affiliated money market fund.

See Notes to Financial Statements.


22				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Notes to financial statements (unaudited)

1. Organization and significant accounting policies

Western Asset Municipal High Income Fund Inc. (the “Fund”) was incorporated in Maryland and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund seeks high current income exempt from federal income taxes. The Fund seeks to achieve its investment objective by investing primarily in intermediate and long-term municipal debt securities issued by state and local governments. However, the Fund may invest in municipal obligations of any maturity. The Fund may invest up to 100% of its assets in municipal obligations rated below investment grade (commonly referred to as “junk bonds”). Investment grade securities are those rated in the Baa/BBB categories or above by at least one National Recognized Statistical Rating Organization that provides such a rating or unrated securities that the subadviser determined to be of comparable credit quality. For credit ratings purposes, pre-refunded bonds are deemed to be unrated. The subadviser determines the credit quality of pre-refunded bonds based on the quality of the escrowed collateral and such other factors as the subadviser deems appropriate.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services –Investment Companies (“ASC 946”). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”), including, but not limited to, ASC 946. Estimates and assumptions are required to be made regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ. Subsequent events have been evaluated through the date the financial statements were issued.

(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					23

Notes to financial statements (unaudited) (cont’d)

Pursuant to policies adopted by the Board of Directors, the Fund’s manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund’s manager is assisted by the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Fund’s manager and the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.


24				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

•

Level 1 — unadjusted quoted prices in active markets for identical investments

•

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund’s assets carried at fair value:


ASSETS
Description	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Long-Term Investments†:
Municipal Bonds		—	$	147,910,107		—	$	147,910,107
Municipal Bonds Deposited in Tender Option Bond Trust		—		3,328,706		—		3,328,706
Total Long-Term Investments		—		151,238,813		—		151,238,813
Short-Term Investments†:
Municipal Bonds		—		4,525,000		—		4,525,000
Money Market Funds	$	37,397		—		—		37,397
Total Short-Term Investments		37,397		4,525,000		—		4,562,397
Total Investments	$	37,397	$	155,763,813		—	$	155,801,210

†	See Schedule of Investments for additional detailed categorizations.

(b) Tender option bonds. The Fund may enter into tender option bond (“TOB”) transactions and may invest in inverse floating rate instruments (“Inverse Floaters”) issued in TOB transactions. The Fund may participate either in structuring an Inverse Floater or purchasing an Inverse Floater in the secondary market. When structuring an Inverse Floater, the Fund deposits securities (typically municipal bonds or other municipal securities) (the “Underlying Bonds”) into a special purpose entity, referred to as a TOB trust. The TOB trust generally issues floating rate notes (“Floaters”) to third parties and residual interest, Inverse Floaters, to the Fund. The Floaters issued by the TOB trust have interest rates which reset weekly and provide the holders of the Floaters the option to tender their notes back to the TOB trust for redemption at par at each reset date. The net proceeds of the sale of the Floaters, after expenses, are received by the Fund and may be invested in additional securities. The Inverse Floaters are inverse floating rate debt instruments, as the return on those bonds is inversely related to changes in a specified interest rate. Distributions on any Inverse


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					25

Notes to financial statements (unaudited) (cont’d)

Floaters paid to the Fund will be reduced or, in the extreme, eliminated as short-term interest rates rise and will increase when such interest rates fall. Floaters issued by a TOB trust may be senior to the Inverse Floaters held by the Fund. The value and market for Inverse Floaters can be volatile, and Inverse Floaters can have limited liquidity.

An investment in an Inverse Floater structured by the Fund is accounted for as a secured borrowing. The Underlying Bonds deposited into the TOB trust are included in the Fund’s Schedule of Investments and a liability for Floaters (TOB floating rate notes) issued by the TOB trust is recognized in the Fund’s Statement of Assets and Liabilities. The carrying amount of the TOB trust’s floating rate note obligations as reported on the Statement of Assets and Liabilities approximates its fair value. Interest income, including amortization, on the Underlying Bonds is recognized in the Fund’s Statements of Operations. Interest paid to holders of the Floaters, as well as other expenses related to administration, liquidity, remarketing and trustee services of the TOB trust, are recognized in Interest expense in the Fund’s Statement of Operations.

(c) Credit and market risk. The Fund invests in high-yield instruments that are subject to certain credit and market risks. The yields of high-yield obligations reflect, among other things, perceived credit and market risks. The Fund’s investments in securities rated below investment grade typically involve risks not associated with higher rated securities including, among others, greater risk related to timely and ultimate payment of interest and principal, greater market price volatility and less liquid secondary market trading.

(d) Security transactions and investment income. Security transactions are accounted for on a trade date basis. Interest income (including interest income from payment-in-kind securities), adjusted for amortization of premium and accretion of discount, is recorded on the accrual basis. The cost of investments sold is determined by use of the specific identification method. To the extent any issuer defaults or a credit event occurs that impacts the issuer, the Fund may halt any additional interest income accruals and consider the realizability of interest accrued up to the date of default or credit event.

(e) Distributions to shareholders. Distributions from net investment income of the Fund, if any, are declared quarterly and paid on a monthly basis. The actual source of the Fund’s monthly distributions may be from net investment income, return of capital or a combination of both. Shareholders will be informed of the tax characteristics of the distributions after the close of the fiscal year. The Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from federal and certain state income taxes, to retain such tax-exempt status when distributed to the shareholders of the Fund.

Distributions of net realized gains, if any, are taxable and are declared at least annually. Distributions to shareholders of the Fund are recorded on the ex-dividend date and are determined in accordance with income tax regulations, which may differ from GAAP.

(f) Compensating balance arrangements. The Fund has an arrangement with its custodian bank whereby a portion of the custodian’s fees is paid indirectly by credits earned on the Fund’s cash on deposit with the bank.


26				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

(g) Federal and other taxes. It is the Fund’s policy to comply with the federal income and excise tax requirements of the Internal Revenue Code of 1986 (the “Code”), as amended, applicable to regulated investment companies. Accordingly, the Fund intends to distribute its taxable income and net realized gains, if any, to shareholders in accordance with timing requirements imposed by the Code. Therefore, no federal or state income tax provision is required in the Fund’s financial statements.

Management has analyzed the Fund’s tax positions taken on income tax returns for all open tax years and has concluded that as of October 31, 2022, no provision for income tax is required in the Fund’s financial statements. The Fund’s federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

(h) Reclassification. GAAP requires that certain components of net assets be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share.

2. Investment management agreement and other transactions with affiliates

Legg Mason Partners Fund Advisor, LLC (“LMPFA”) is the Fund’s investment manager and Western Asset Management Company, LLC (“Western Asset”) is the Fund’s subadviser. LMPFA and Western Asset are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).

LMPFA provides administrative and certain oversight services to the Fund. The Fund pays an investment management fee, calculated daily and paid monthly, at an annual rate of 0.55% of the Fund’s average daily net assets.

LMPFA delegates to Western Asset the day-to-day portfolio management of the Fund. For its services, LMPFA pays Western Asset monthly 70% of the net management fee it receives from the Fund.

The manager has agreed to waive the Fund’s management fee to an extent sufficient to offset the net management fee payable in connection with any investment in an affiliated money market fund.

During the six months ended April 30, 2023, fees waived and/or expenses reimbursed amounted to $23, all of which was an affiliated money market fund waiver.

All officers and one Director of the Fund are employees of Franklin Resources or its affiliates and do not receive compensation from the Fund.

The Fund is permitted to purchase or sell short-term variable rate demand obligations from or to certain other affiliated funds or portfolios under specified conditions outlined in procedures adopted by the Board of Directors. The procedures have been designed to provide assurance that any purchase or sale of securities by the Fund from or to another fund or portfolio that is, or could be considered, an affiliate by virtue of having a common investment manager or subadviser (or affiliated investment manager or subadviser), common Directors and/or common officers complies with Rule 17a-7 under the 1940 Act.


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					27

Notes to financial statements (unaudited) (cont’d)

Further, as defined under the procedures, each transaction is effected at the current market price. For the six months ended April 30, 2023, such purchase and sale transactions (excluding accrued interest) were $9,375,000 and $7,350,000, respectively.

3. Investments

During the six months ended April 30, 2023, the aggregate cost of purchases and proceeds from sales of investments (excluding short-term investments) were as follows:


Purchases	$	16,505,953
Sales		8,650,303

At April 30, 2023, the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were substantially as follows:

Cost*

Gross

Unrealized

Appreciation

Gross

Unrealized

Depreciation

Net

Unrealized

Depreciation

Securities

155,434,317

3,250,858

(4,713,965)

(1,463,107)

*	Cost of investments for federal income tax purposes includes the value of Inverse Floaters issued in TOB transactions (Note 1).

4. Derivative instruments and hedging activities

During the six months ended April 30, 2023, the Fund did not invest in derivative instruments.

5. Distributions subsequent to April 30, 2023

The following distributions have been declared by the Fund’s Board of Directors and are payable subsequent to the period end of this report:


Record Date	Payable Date		Amount
4/21/2023		5/1/2023	$	0.0198
5/23/2023		6/1/2023	$	0.0198
6/23/2023		7/3/2023	$	0.0198
7/24/2023		8/1/2023	$	0.0198
8/24/2023		9/1/2023	$	0.0198

6. Stock repurchase program

On November 16, 2015, the Fund announced that the Fund’s Board of Directors (the “Board”) had authorized the Fund to repurchase in the open market up to approximately 10% of the Fund’s outstanding common stock when the Fund’s shares are trading at a discount to net asset value. The Board has directed management of the Fund to repurchase shares of common stock at such times and in such amounts as management reasonably believes may enhance stockholder value. The Fund is under no obligation to purchase shares at any specific discount levels or in any specific amounts. During the six months ended April 30, 2023 and the year ended October 31, 2022, the Fund did not repurchase any shares.


28				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

7. Transactions with affiliated company

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the six months ended April 30, 2023. The following transactions were effected in such company for the six months ended April 30, 2023.


	Affiliate Value at
	October 31,		Purchased				Sold
	2022		Cost		Shares		Proceeds		Shares
Western Asset Premier Institutional Government Reserves, Premium Shares	$	46,898	$	518,624		518,624	$	528,125		528,125

(cont’d)

Realized

Gain (Loss)

Dividend
Income

Net Increase

(Decrease) in

Unrealized

Appreciation

(Depreciation)

Affiliate

Value at

April 30,

2023

Western Asset Premier Institutional Government Reserves, Premium Shares

—

1,076

—

37,397

8. Deferred capital losses

As of October 31, 2022, the Fund had deferred capital losses of $6,507,053, which have no expiration date, that will be available to offset future taxable capital gains.

9. Recent accounting pronouncement

In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In January 2021 and December 2022, the FASB issued ASU No. 2021-01 and ASU No. 2022-06, with further amendments to Topic 848. The amendments in the ASUs provide optional temporary accounting recognition and financial reporting relief from the effect of certain types of contract modifications due to the planned discontinuation of the London Interbank Offered Rate (LIBOR) and other interbank-offered based reference rates as of the end of 2021 for certain LIBOR settings and 2023 for the remainder. The ASUs are effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2024. Management has reviewed the requirements and believes the adoption of these ASUs will not have a material impact on the financial statements.

10. Other matter

The Fund’s investments, payment obligations, and financing terms may be based on floating rates, such as the London Interbank Offered Rate, or “LIBOR,” which is the offered rate for


Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report					29

Notes to financial statements (unaudited) (cont’d)

short-term Eurodollar deposits between major international banks. On March 5, 2021, the ICE Benchmark Administration, the administrator of LIBOR, stated that it will cease the publication of the overnight and one-, three-, six- and twelve-month USD LIBOR settings immediately following the LIBOR publication on Friday, June 30, 2023. All other LIBOR settings, including the one-week and two-month USD LIBOR settings, have ceased publication as of January 1, 2022. In March 2022, the U.S. federal government enacted legislation to establish a process for replacing LIBOR in certain existing contracts that do not already provide for the use of a clearly defined or practicable replacement benchmark rate as described in the legislation. Generally speaking, for contracts that do not contain a fallback provision as described in the legislation, a benchmark replacement recommended by the Federal Reserve Board will effectively automatically replace the USD LIBOR benchmark in the contract after June 30, 2023. The recommended benchmark replacement will be based on the Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York, including certain spread adjustments and benchmark replacement conforming changes. There remains uncertainty regarding the impact of the transition from LIBOR on the Fund’s transactions and the financial markets generally.


30				Western Asset Municipal High Income Fund Inc. 2023 Semi-Annual Report

Additional shareholder information (unaudited)

Results of annual meeting of shareholders

The Annual Meeting of Shareholders of Western Asset Municipal High Income Fund Inc. was held on April 14, 2023 for the purpose of considering and voting upon the proposals presented at the Meeting. The following table provides information concerning the matters voted upon at the Meeting:

Election of Directors


Nominees	FOR		WITHHELD		ABSTAIN
Robert D. Agdern		17,896,801		579,466		365,677
Eileen A. Kamerick		17,922,368		589,912		329,664

At April 30, 2023, in addition to Robert D. Agdern and Eileen A. Kamerick, the other Directors of the Fund were as follows:

Carol L. Colman

Daniel P. Cronin

Paolo M. Cucchi

Nisha Kumar

Jane Trust

Ratification of Selection of Independent Registered Public Accountants

To ratify the selection of PricewaterhouseCoopers LLP (“PwC”) as independent registered public accountants of the Fund for the fiscal year ended October 31, 2023.


FOR	AGAINST		ABSTAIN
18,535,669		173,294		132,980


Western Asset Municipal High Income Fund Inc.					31

Dividend reinvestment plan (unaudited)

Unless you elect to receive distributions in cash (i.e., opt-out), all dividends, including any capital gain dividends and return of capital distributions, on your Common Stock will be automatically reinvested by Computershare Trust Company, N.A., as agent for the stockholders (the “Plan Agent”), in additional shares of Common Stock under the Fund’s Dividend Reinvestment Plan (the “Plan”). You may elect not to participate in the Plan by contacting the Plan Agent. If you do not participate, you will receive all cash distributions paid by check mailed directly to you by Computershare Trust Company, N.A., as dividend paying agent.

If you participate in the Plan, the number of shares of Common Stock you will receive will be determined as follows:

(1) If the market price of the Common Stock (plus $0.03 per share commission) on the payment date (or, if the payment date is not a NYSE trading day, the immediately preceding trading day) is equal to or exceeds the net asset value per share of the Common Stock at the close of trading on the NYSE on the payment date, the Fund will issue new Common Stock at a price equal to the greater of (a) the net asset value per share at the close of trading on the NYSE on the payment date or (b) 95% of the market price per share of the Common Stock on the payment date.

(2) If the net asset value per share of the Common Stock exceeds the market price of the Common Stock (plus $0.03 per share commission) at the close of trading on the NYSE on the payment date, the Plan Agent will receive the dividend or distribution in cash and will buy Common Stock in the open market, on the NYSE or elsewhere, for your account as soon as practicable commencing on the trading day following the payment date and terminating no later than the earlier of (a) 30 days after the dividend or distribution payment date, or (b) the payment date for the next succeeding dividend or distribution to be made to the stockholders; except when necessary to comply with applicable provisions of the federal securities laws. If during this period: (i) the market price (plus $0.03 per share commission) rises so that it equals or exceeds the net asset value per share of the Common Stock at the close of trading on the NYSE on the payment date before the Plan Agent has completed the open market purchases or (ii) if the Plan Agent is unable to invest the full amount eligible to be reinvested in open market purchases, the Plan Agent will cease purchasing Common Stock in the open market and the Fund shall issue the remaining Common Stock at a price per share equal to the greater of (a) the net asset value per share at the close of trading on the NYSE on the day prior to the issuance of shares for reinvestment or (b) 95% of the then current market price per share.

Common Stock in your account will be held by the Plan Agent in non-certificated form. Any proxy you receive will include all shares of Common Stock you have received under the Plan. You may withdraw from the Plan (i.e., opt-out) by notifying the Plan Agent in writing at P.O. Box 43006, Providence, RI 02940-3078 or by calling the Plan Agent at 1-888-888-0151. Such withdrawal will be effective immediately if notice is received by the Plan Agent not less than ten business days prior to any dividend or distribution record date; otherwise such withdrawal will be effective as soon as practicable after the Plan Agent’s investment of the most recently declared dividend or distribution on the Common Stock.


32				Western Asset Municipal High Income Fund Inc.

Plan participants who sell their shares will be charged a service charge (currently $5.00 per transaction) and the Plan Agent is authorized to deduct brokerage charges actually incurred from the proceeds (currently $0.05 per share commission). There is no service charge for reinvestment of your dividends or distributions in Common Stock. However, all participants will pay a pro rata share of brokerage commissions incurred by the Plan Agent when it makes open market purchases. Because all dividends and distributions will be automatically reinvested in additional shares of Common Stock, this allows you to add to your investment through dollar cost averaging, which may lower the average cost of your Common Stock over time. Dollar cost averaging is a technique for lowering the average cost per share over time if the Fund’s net asset value declines. While dollar cost averaging has definite advantages, it cannot assure profit or protect against loss in declining markets.

Automatically reinvesting dividends and distributions does not mean that you do not have to pay income taxes due upon receiving dividends and distributions. Investors will be subject to income tax on amounts reinvested under the Plan.

The Fund reserves the right to amend or terminate the Plan if, in the judgment of the Board of Directors, the change is warranted. The Plan may be terminated, amended or supplemented by the Fund upon notice in writing mailed to stockholders at least 30 days prior to the record date for the payment of any dividend or distribution by the Fund for which the termination or amendment is to be effective. Upon any termination, you will be sent cash for any fractional share of Common Stock in your account. You may elect to notify the Plan Agent in advance of such termination to have the Plan Agent sell part or all of your Common Stock on your behalf. Additional information about the Plan and your account may be obtained from the Plan Agent at P.O. Box 43006, Providence, RI 02940-3078 or by calling the Plan Agent at 1-888-888-0151.


Western Asset Municipal High Income Fund Inc.					33

Western Asset

Municipal High Income Fund Inc.

Directors

Robert D. Agdern

Carol L. Colman

Daniel P. Cronin

Paolo M. Cucchi

Eileen A. Kamerick

Nisha Kumar

Jane Trust

Chairman

Officers

Jane Trust

President and Chief Executive Officer

Christopher Berarducci

Treasurer and Principal Financial Officer

Fred Jensen

Chief Compliance Officer

George P. Hoyt

Secretary and Chief Legal Officer

Thomas C. Mandia

Senior Vice President

Jeanne M. Kelly

Senior Vice President

Western Asset Municipal High Income Fund Inc.

620 Eighth Avenue

47th Floor

New York, NY 10018

Investment manager

Legg Mason Partners Fund Advisor, LLC

Subadviser

Western Asset Management Company, LLC

Custodian

The Bank of New York Mellon

Transfer agent

Computershare Inc.

P.O. Box 43006

Providence, RI 02940-3078

Independent registered public accounting firm

PricewaterhouseCoopers LLP Baltimore, MD

Legal counsel

Simpson Thacher & Bartlett LLP

900 G Street NW

Washington, DC 20001

New York Stock Exchange Symbol

MHF

Legg Mason Funds Privacy and Security Notice

Your Privacy and the Security of Your Personal Information is Very Important to the Legg Mason Funds

This Privacy and Security Notice (the “Privacy Notice”) addresses the Legg Mason Funds’ privacy and data protection practices with respect to nonpublic personal information the Funds receive. The Legg Mason Funds include the Western Asset Money Market Funds sold by the Funds’ distributor, Franklin Distributors, LLC, as well as Legg Mason-sponsored closed-end funds. The provisions of this Privacy Notice apply to your information both while you are a shareholder and after you are no longer invested with the Funds.

The Type of Nonpublic Personal Information the Funds Collect About You

The Funds collect and maintain nonpublic personal information about you in connection with your shareholder account. Such information may include, but is not limited to:

•

Personal information included on applications or other forms;

•

Account balances, transactions, and mutual fund holdings and positions;

•

Bank account information, legal documents, and identity verification documentation; and

•

Online account access user IDs, passwords, security challenge question responses.

How the Funds Use Nonpublic Personal Information About You

The Funds do not sell or share your nonpublic personal information with third parties or with affiliates for their marketing purposes, unless you have authorized the Funds to do so. The Funds do not disclose any nonpublic personal information about you except as may be required to perform transactions or services you have authorized or as permitted or required by law.

The Funds may disclose information about you to:

•

Employees, agents, and affiliates on a “need to know” basis to enable the Funds to conduct ordinary business or to comply with obligations to government regulators;

•

Service providers, including the Funds’ affiliates, who assist the Funds as part of the ordinary course of business (such as printing, mailing services, or processing or servicing your account with us) or otherwise perform services on the Funds’ behalf, including companies that may perform statistical analysis, market research and marketing services solely for the Funds;

•

Permit access to transfer, whether in the United States or countries outside of the United States to such Funds’ employees, agents and affiliates and service providers as required to enable the Funds to conduct ordinary business, or to comply with obligations to government regulators;

•

The Funds’ representatives such as legal counsel, accountants and auditors to enable the Funds to conduct ordinary business, or to comply with obligations to government regulators;

•

Fiduciaries or representatives acting on your behalf, such as an IRA custodian or trustee of a grantor trust.

NOT PART OF THE SEMI-ANNUAL REPORT

Legg Mason Funds Privacy and Security Notice (cont’d)

Except as otherwise permitted by applicable law, companies acting on the Funds’ behalf, including those outside the United States, are contractually obligated to keep nonpublic personal information the Funds provide to them confidential and to use the information the Funds share only to provide the services the Funds ask them to perform.

The Funds may disclose nonpublic personal information about you when necessary to enforce their rights or protect against fraud, or as permitted or required by applicable law, such as in connection with a law enforcement or regulatory request, subpoena, or similar legal process. In the event of a corporate action or in the event a Fund service provider changes, the Funds may be required to disclose your nonpublic personal information to third parties. While it is the Funds’ practice to obtain protections for disclosed information in these types of transactions, the Funds cannot guarantee their privacy policy will remain unchanged.

Keeping You Informed of the Funds’ Privacy and Security Practices

The Funds will notify you annually of their privacy policy as required by federal law. While the Funds reserve the right to modify this policy at any time, they will notify you promptly if this privacy policy changes.

The Funds’ Security Practices

The Funds maintain appropriate physical, electronic and procedural safeguards designed to guard your nonpublic personal information. The Funds’ internal data security policies restrict access to your nonpublic personal information to authorized employees, who may use your nonpublic personal information for Fund business purposes only.

Although the Funds strive to protect your nonpublic personal information, they cannot ensure or warrant the security of any information you provide or transmit to them, and you do so at your own risk. In the event of a breach of the confidentiality or security of your nonpublic personal information, the Funds will attempt to notify you as necessary so you can take appropriate protective steps. If you have consented to the Funds using electronic communications or electronic delivery of statements, they may notify you under such circumstances using the most current email address you have on record with them.

In order for the Funds to provide effective service to you, keeping your account information accurate is very important. If you believe that your account information is incomplete, not accurate or not current, if you have questions about the Funds’ privacy practices, or our use of your nonpublic personal information, write the Funds using the contact information on your account statements, email the Funds by clicking on the Contact Us section of the Funds’ website at www.franklintempleton.com, or contact the Funds at 1-877-721-1926 for the Western Asset Money Market Funds or 1-888-777-0102 for the Legg Mason-sponsored closed-end funds.

Revised October 2022

NOT PART OF THE SEMI-ANNUAL REPORT

Legg Mason Funds Privacy and Security Notice (cont’d)

Legg Mason California Consumer Privacy Act Policy

Although much of the personal information we collect is “nonpublic personal information” subject to federal law, residents of California may, in certain circumstances, have additional rights under the California Consumer Privacy Act (“CCPA”). For example, if you are a broker, dealer, agent, fiduciary, or representative acting by or on behalf of, or for, the account of any other person(s) or household, or a financial advisor, or if you have otherwise provided personal information to us separate from the relationship we have with personal investors, the provisions of this Privacy Policy apply to your personal information (as defined by the CCPA).

In addition to the provisions of the Legg Mason Funds Security and Privacy Notice, you may have the right to know the categories and specific pieces of personal information we have collected about you.

You also have the right to request the deletion of the personal information collected or maintained by the Funds.

If you wish to exercise any of the rights you have in respect of your personal information, you should advise the Funds by contacting them as set forth below. The rights noted above are subject to our other legal and regulatory obligations and any exemptions under the CCPA. You may designate an authorized agent to make a rights request on your behalf, subject to the identification process described below. We do not discriminate based on requests for information related to our use of your personal information, and you have the right not to receive discriminatory treatment related to the exercise of your privacy rights.

We may request information from you in order to verify your identity or authority in making such a request. If you have appointed an authorized agent to make a request on your behalf, or you are an authorized agent making such a request (such as a power of attorney or other written permission), this process may include providing a password/passcode, a copy of government issued identification, affidavit or other applicable documentation, i.e. written permission. We may require you to verify your identity directly even when using an authorized agent, unless a power of attorney has been provided. We reserve the right to deny a request submitted by an agent if suitable and appropriate proof is not provided.

For the 12-month period prior to the date of this Privacy Policy, the Legg Mason Funds have not sold any of your personal information; nor do we have any plans to do so in the future.

Contact Information

Address: Data Privacy Officer, 100 International Dr., Baltimore, MD 21202

Email: DataProtectionOfficer@franklintempleton.com

Phone: 1-800-396-4748

Revised October 2022

NOT PART OF THE SEMI-ANNUAL REPORT

Western Asset Municipal High Income Fund Inc.

Western Asset Municipal High Income Fund Inc.

620 Eighth Avenue

47^th Floor New York,

NY 10018

Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as amended, that from time to time the Fund may purchase, at market prices, shares of its stock.

The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (“SEC”) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Fund’s Forms N-PORT are available on the SEC’s website at www.sec.gov. To obtain information on Form N-PORT, shareholders can call the Fund at 1-888-777-0102.

Information on how the Fund voted proxies relating to portfolio securities during the prior 12-month period ended June 30th of each year and a description of the policies and procedures that the Fund uses to determine how to vote proxies related to portfolio transactions are available (1) without charge, upon request, by calling 1-888-777-0102, (2) at www.franklintempleton.com and (3) on the SEC’s website at www.sec.gov.

Quarterly performance, semi-annual and annual reports, current net asset value and other information regarding the Fund may be found on Franklin Templeton’s website, which can be accessed at www.franklintempleton.com. Any reference to Franklin Templeton’s website in this report is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate Franklin Templeton’s website in this report.

This report is transmitted to the shareholders of Western Asset Municipal High Income Fund Inc. for their information. This is not a prospectus, circular or representation intended for use in the purchase of shares of the Fund or any securities mentioned in this report.

Computershare Inc.

P.O. Box 43006

Providence, RI 02940-3078

WAS04050 06/23 SR23-4668

ITEM 2.

CODE OF ETHICS.

Not applicable.

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.

SCHEDULE OF INVESTMENTS.

Included herein under Item 1.

ITEM 7.

DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8.

INVESTMENT PROFESSIONALS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

On March 31, 2023, John Mooney became part of the portfolio management team of the Fund.

NAME AND

ADDRESS

LENGTH OF

TIME SERVED

PRINCIPAL OCCUPATION(S) DURING

PAST 5 YEARS

John Mooney

Western Asset

385 East

Colorado Blvd.

Pasadena, CA

91101

Since March 31, 2023

Responsible for the day-to-day management with other members of the Fund’s portfolio management team; portfolio manager at Western Asset since 2005; prior to that time, Mr. Mooney was with Citigroup Asset Management, AIG/SunAmerica, and First Investors Management Company.

ITEM 9.

PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10.

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

Not applicable.

ITEM 11.

CONTROLS AND PROCEDURES.

(a)

The registrant’s principal executive officer and principal financial officer 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 date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

(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 period covered by this report that have materially affected, or are likely to materially affect the registrant’s internal control over financial reporting.

ITEM 12.

DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not applicable.

ITEM 13.

EXHIBITS.

(a) (1) Not applicable.

Exhibit 99.CODE ETH

(a) (2) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.CERT

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.906CERT

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, there unto duly authorized.

Western Asset Municipal High Income Fund Inc.


By:		/s/ Jane Trust
		Jane Trust
		Chief Executive Officer

Date:		June 26, 2023

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/ Jane Trust
		Jane Trust
		Chief Executive Officer

Date:		June 26, 2023

By:		/s/ Christopher Berarducci
		Christopher Berarducci
		Principal Financial Officer

Date:		June 26, 2023

CERTIFICATIONS PURSUANT TO SECTION 302

EX-99.CERT

CERTIFICATIONS

I, Jane Trust, certify that:

1.	I have reviewed this report on Form N-CSR of Western Asset Municipal High Income Fund Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officers and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

CERTIFICATIONS

I, Christopher Berarducci, certify that:

1.	I have reviewed this report on Form N-CSR of Western Asset Municipal High Income Fund Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial information included in this report, and the financial statements on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

5.	The registrant’s other certifying officers and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

CERTIFICATIONS PURSUANT TO SECTION 906

EX-99.906CERT

CERTIFICATION

Jane Trust, Chief Executive Officer, and Christopher Berarducci, Principal Financial Officer of Western Asset Municipal High Income Fund Inc. (the “Registrant”), each certify to the best of their knowledge that:

1. The Registrant’s periodic report on Form N-CSR for the period ended April 30, 2023 (the “Form N-CSR”) fully complies with the requirements of section 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.


Chief Executive Officer				Principal Financial Officer
Western Asset Municipal High Income Fund Inc.				Western Asset Municipal High Income Fund Inc.

/s/ Jane Trust				/s/ Christopher Berarducci
Jane Trust				Christopher Berarducci
Date: June 26, 2023				Date: June 26, 2023

This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Commission.

Western Asset Municipal ... (NYSE:MHF)
Historical Stock Chart
Von Apr 2024 bis Mai 2024

Click Here for more Western Asset Municipal ... Charts.

Western Asset Municipal ... (NYSE:MHF)
Historical Stock Chart
Von Mai 2023 bis Mai 2024

Date: June 26, 2023

/s/ Jane Trust

Jane Trust

Chief Executive Officer