2015 Population Estimates Released; Impact on Bond Caps and SSBG Allocations
On December 22, 2015, the U.S. Census Bureau released resident state population estimates for July 2015. The new data identify population shifts and affect certain grant and other formulas.
The U.S. population continues to grow at a historically slow rate, with an increase of 0.79% in 2015. Population changes during the year ranged from a low of -1.72% in Puerto Rico to a high of 2.28% in North Dakota. In addition to Puerto Rico, Connecticut, Illinois, Maine, Mississippi, New Mexico, Vermont, and West Virginia registered declines.
This Issue Brief summarizes the new population estimates and calculates their effect on calendar year (CY) 2016 tax-exempt private activity bond limitations and fiscal year (FY) 2017 Social Services Block Grant (SSBG) allocations.