Summary
The U.S. Census Bureau released state resident population estimates for July 2019 and revised data for prior years. The new data identify population shifts and affect certain formulas.
The national population continues to grow at historically low rates. This year’s population increase dipped below 0.5% for the first time in recent years, and last year’s estimate was revised downward from 0.62% to 0.52%.
Idaho was the fastest-growing state and was the only state to exceed 2% annual growth. Ten states registered population declines.
This Issue Brief summarizes the new population estimates and calculates their effect on calendar year (CY) 2020 tax-exempt private activity bond limitations and fiscal year (FY) 2021 Social Services Block Grant (SSBG) allocations.