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<TITLE>Form 8-K</TITLE>
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<P align=justify style='font-family:"Times New Roman";line-height:4pt;margin-top:4pt;margin-bottom:0pt'>&nbsp;</P>
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<P align=center style='font-family:"Times New Roman";margin:0'><FONT style='font:18pt Times New Roman Bold'><B>UNITED STATES</B></FONT></P>
<P align=center style='font-family:"Times New Roman";margin:0'><FONT style='font:18pt Times New Roman Bold'><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P align=center style='font-family:"Times New Roman";margin:0'><B>Washington, D.C. 20549</B></P>
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<P align=center style='font-family:"Times New Roman";margin:0'>_______________</P>
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<P align=center style='font-family:"Times New Roman";margin:0'><FONT style='font-size:18pt'><B>FORM 8-K</B></FONT></P>
<P align=justify style='font-family:"Times New Roman";margin:0'><font style='font-size:18pt;'>&nbsp;</font></P>
<P align=center style='font-family:"Times New Roman";margin:0'><B>CURRENT REPORT PURSUANT</B></P>
<P align=center style='font-family:"Times New Roman";margin:0'><B>TO SECTION 13 OR 15 (d) OF THE</B></P>
<P align=center style='font-family:"Times New Roman";margin:0'><B>SECURITIES EXCHANGE ACT OF 1934</B></P>
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<P align=center style='font-family:"Times New Roman";margin:0'><B>Date of report (Date of earliest event reported): August 18, 2015</B></P>
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<P align=center style='font-family:"Times New Roman";margin:0'><FONT style='font-size:22pt'><B>NATIONAL TAX CREDIT INVESTORS II</B></FONT></P>
<P align=center style='font-family:"Times New Roman";margin:0'><B>(Exact name of registrant as specified in its charter)</B></P>
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<TABLE align='center' style='border-collapse:collapse'><TR><TD valign='top' style='width:180.1pt'><P align=center style='font-family:"Times New Roman";margin:0'><B>California</B></P></TD><TD valign='top' style='width:179.95pt'><P align=center style='font-family:"Times New Roman";margin:0'><B>0-20610</B></P></TD><TD valign='top' style='width:179.95pt'><P align=center style='font-family:"Times New Roman";margin:0'><B>93-1017959</B></P></TD></TR>
<TR><TD valign='top' style='width:180.1pt'><P align=center style='font-family:"Times New Roman";margin:0'>(State or Other Jurisdiction of</P></TD><TD valign='top' style='width:179.95pt'><P align=center style='font-family:"Times New Roman";margin:0'>(Commission File Number)</P></TD><TD valign='top' style='width:179.95pt'><P align=center style='font-family:"Times New Roman";margin:0'>(I.R.S. Employer</P></TD></TR>
<TR><TD valign='top' style='width:180.1pt'><P align=center style='font-family:"Times New Roman";margin:0'>Incorporation)</P></TD><TD valign='top' style='width:179.95pt'><P align=center style='font-family:"Times New Roman";margin:0'>&nbsp;</P></TD><TD valign='top' style='width:179.95pt'><P align=center style='font-family:"Times New Roman";margin:0'>Identification No.)</P></TD></TR>
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<TABLE align='center' style='border-collapse:collapse;width:100%'><TR><TD valign='top' style='width:100%'><P align=center style='font-family:"Times New Roman";margin:0'><B>P.O. Box 91274</B></P><P align=center style='font-family:"Times New Roman";margin:0'><B>Los Angeles, California 90009</B></P></TD></TR>
<TR><TD valign='top' style='width:100%'><P align=center style='font-family:"Times New Roman";margin:0'>(Address of Principal Executive Offices, including zip code)</P></TD></TR>
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<P align=justify style='font-family:"Times New Roman";margin:0'><B>Registrant&#8217;s Telephone Number, Including Area Code: &nbsp;(720) 387-8135</B></P>
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<P align=justify style='font:12pt Arial Unicode MS;margin-top:5pt;margin-bottom:5pt'><FONT style='font:10pt Times New Roman'>Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </FONT></P>
<P align=justify style='font:12pt Arial Unicode MS;margin-top:5pt;margin-bottom:5pt'><FONT style='font:10pt Times New Roman'>&#160;&#160;&#160;&#160;&#160;</FONT><FONT style='font:8pt Wingdings;color:#000000'>&#168;</FONT><FONT style='font:10pt Times New Roman'> Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425) </FONT></P>
<P align=justify style='font:12pt Arial Unicode MS;margin-top:5pt;margin-bottom:5pt'><FONT style='font:10pt Times New Roman'>&#160;&#160;&#160;&#160;&#160;</FONT><FONT style='font:8pt Wingdings;color:#000000'>&#168;</FONT><FONT style='font:10pt Times New Roman'> &nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P align=justify style='font:12pt Arial Unicode MS;margin-top:5pt;margin-bottom:5pt'><FONT style='font:10pt Times New Roman'>&#160;&#160;&#160;&#160;&#160;</FONT><FONT style='font:8pt Wingdings;color:#000000'>&#168;</FONT><FONT style='font:10pt Times New Roman'> &nbsp;Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></P>
<P align=justify style='font:12pt Arial Unicode MS;margin-top:5pt;margin-bottom:5pt'><FONT style='font:10pt Times New Roman'>&#160;&#160;&#160;&#160;&#160;</FONT><FONT style='font:8pt Wingdings;color:#000000'>&#168;</FONT><FONT style='font:10pt Times New Roman'> &nbsp;Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></P>
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<P align=justify style='font-family:"Times New Roman";margin-top:7.5pt;margin-bottom:0pt'><B>Item 2.01 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Completion of Acquisition or Disposition of Assets.</B></P>
<P align=justify style='font-family:"Times New Roman";margin-top:7.5pt;margin-bottom:0pt'>As previously disclosed, in June 2015, the Registrant entered into the 8<SUP>th</SUP> Amendment to an Assignment and Assumption Agreement (the &#8220;Assignment Agreement&#8221;) and a Loan Purchase Agreement (together with the Assignment Agreement, collectively the &#8220;Agreements&#8221;), in each case by and among the Registrant, ERI/MB Holdings LLC, a Massachusetts limited liability company (&#8220;Assignee&#8221;) and MB Apartments Limited Partnership, an Illinois limited partnership, the General Partner of the Partnership (the &#8220;General Partner&#8221;), pursuant to which the Registrant agreed to assign 100% of its interests in the Michigan Beach Limited Partnership, an Illinois limited partnership (the &#8220;Partnership&#8221;) to the Assignee and to sell the second mortgage held by the Registrant for an amount equal to the outstanding principal on a loan from the Registrant to the Partnership. &nbsp;Pursuant to the terms of the Agreements, on August 18, 2015, the Registrant transferred all of its interests in the Partnership to the Assignee. &nbsp;</P>
<P align=justify style='font-family:"Times New Roman";margin-top:7.5pt;margin-bottom:0pt'>As a result of the transfer of the Registrant&#8217;s interests in the Partnership and the sale of the mortgage, the Registrant received approximately $3,596,000 in consideration, all of which is intended to be used by the Registrant for the payment of outstanding payables owed by the Registrant, to fund operating reserves for the payment of future payables expected to be owed by the Registrant, and a cash distribution to the limited partners of the Registrant.</P>
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<P align=center style='font-family:"Times New Roman";margin:0'><B>SIGNATURE</B></P>
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<P align=justify style='font-family:"Times New Roman";margin:0;text-indent:14.4pt'>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
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<TABLE style='border-collapse:collapse'><TR><TD valign='top' style='width:212.4pt'><P align=justify style='font-family:"Times New Roman";margin:0'>&nbsp;</P></TD><TD valign='top' style='width:301.5pt'><P align=center style='font-family:"Times New Roman";margin:0'>NATIONAL TAX CREDIT INVESTORS II&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</P></TD></TR>
<TR><TD valign='top' style='width:212.4pt'><P align=justify style='font-family:"Times New Roman";margin:0'>&nbsp;</P></TD><TD valign='top' style='width:301.5pt'><P align=center style='font-family:"Times New Roman";margin:0'>&nbsp;</P></TD></TR>
<TR><TD valign='top' style='width:212.4pt'><P align=justify style='font-family:"Times New Roman";margin:0'>&nbsp;</P></TD><TD valign='top' style='width:301.5pt'><P align=justify style='font-family:"Times New Roman";margin:0;margin-left:53.1pt'>&nbsp;</P></TD></TR>
<TR><TD valign='top' style='width:212.4pt'><P align=justify style='font-family:"Times New Roman";margin:0'>&nbsp;</P></TD><TD valign='top' style='width:301.5pt'><P align=justify style='font-family:"Times New Roman";margin:0;margin-left:53.1pt'><kbd style='width:36pt;float:left;margin-bottom:-3px;font-family:"Times New Roman"'>By:</kbd>National Partnership Investments, LLC</P><P align=justify style='font-family:"Times New Roman";margin:0;margin-left:53.1pt'><kbd style='width:36pt;float:left;margin-bottom:-3px;font-family:"Times New Roman"'>&nbsp;</kbd>Corporate General Partner</P><P align=justify style='font-family:"Times New Roman";margin:0;margin-left:53.1pt'>&nbsp;</P><P align=justify style='font-family:"Times New Roman";margin:0;margin-left:53.1pt'>By: &nbsp;<U>/s/ Joseph Dryden&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U></P></TD></TR>
<TR><TD valign='top' style='width:212.4pt'><P align=justify style='font-family:"Times New Roman";margin:0'>&nbsp;</P></TD><TD valign='top' style='width:301.5pt'><P align=justify style='font-family:"Times New Roman";margin:0;margin-left:53.1pt'> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Joseph Dryden</U></P></TD></TR>
<TR><TD valign='top' style='width:212.4pt'><P align=justify style='font-family:"Times New Roman";margin:0'>&nbsp;</P></TD><TD valign='top' style='width:301.5pt'><P align=justify style='font-family:"Times New Roman";margin:0;margin-left:53.1pt'> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;V.P. of Finance/CFO </P></TD></TR>
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<P align=justify style='font-family:"Times New Roman";margin:0;margin-left:252pt'> &nbsp;&nbsp;&nbsp;&nbsp;DATED: &nbsp;August 20, 2015</P>
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Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): August 18, 2015
NATIONAL TAX CREDIT INVESTORS II
(Exact name of registrant as specified in its charter)
California
0-20610
93-1017959
(State or Other Jurisdiction of
(Commission File Number)
(I.R.S. Employer
Incorporation)
Identification No.)
P.O. Box 91274
Los Angeles, California 90009
(Address of Principal Executive Offices, including zip code)
Registrant's Telephone Number, Including Area Code:  (720) 387-8135
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01            Completion of Acquisition or Disposition of Assets.
As previously disclosed, in June 2015, the Registrant entered into the 8
th
Amendment to an Assignment and Assumption Agreement (the "Assignment Agreement") and a Loan Purchase Agreement (together with the Assignment Agreement, collectively the "Agreements"), in each case by and among the Registrant, ERI/MB Holdings LLC, a Massachusetts limited liability company ("Assignee") and MB Apartments Limited Partnership, an Illinois limited partnership, the General Partner of the Partnership (the "General Partner"), pursuant to which the Registrant agreed to assign 100% of its interests in the Michigan Beach Limited Partnership, an Illinois limited partnership (the "Partnership") to the Assignee and to sell the second mortgage held by the Registrant for an amount equal to the outstanding principal on a loan from the Registrant to the Partnership.  Pursuant to the terms of the Agreements, on August 18, 2015, the Registrant transferred all of its interests in the Partnership to the Assignee.
As a result of the transfer of the Registrant's interests in the Partnership and the sale of the mortgage, the Registrant received approximately $3,596,000 in consideration, all of which is intended to be used by the Registrant for the payment of outstanding payables owed by the Registrant, to fund operating reserves for the payment of future payables expected to be owed by the Registrant, and a cash distribution to the limited partners of the Registrant.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NATIONAL TAX CREDIT INVESTORS II
By:
National Partnership Investments, LLC
Corporate General Partner
By:
/s/ Joseph Dryden
Joseph Dryden
V.P. of Finance/CFO
DATED:  August 20, 2015