Impact of 2016 Population Estimates on Bond Caps and SSBG Allocations
On December 20, the U.S. Census Bureau released state resident population estimates for July 2016. The new data identify population shifts and affect certain grant and other formulas.
The U.S. population grew by 0.70% in 2016, the lowest increase since the Great Depression. Population changes during the year ranged from a low of -1.78% in Puerto Rico to a high of 2.03% in Utah. In addition to Puerto Rico, Connecticut, Illinois, Mississippi, New York, Pennsylvania, Vermont, West Virginia, and Wyoming registered declines.
This Issue Brief summarizes the new population estimates and calculates their effect on calendar year (CY) 2017 tax-exempt private activity bond limitations and fiscal year (FY) 2018 Social Services Block Grant (SSBG) allocations.