2014 Population Estimates Released; Impact on Bond Caps and SSBG Allocations
On December 23, 2014, the U.S. Census Bureau released resident state population estimates for July 2014. The new data identify population shifts and affect certain grant-in-aid and other formulas. The U.S. population continues to grow at a historically slow rate, with an increase of 0.75% in 2014. Population changes during the year ranged from a low of -1.32% in Puerto Rico to a high of 2.16% in North Dakota. In addition to Puerto Rico, Alaska, Connecticut, Illinois, New Mexico, Vermont, and West Virginia registered declines.
This Issue Brief summarizes the new population estimates and calculates their effect on calendar year (CY) 2015 tax-exempt private activity bond limitations and federal fiscal year (FY) 2016 Social Services Block Grant (SSBG) allocations.