2018 Population Estimates; Impact on Bond Caps and SSBG
The U.S. Census Bureau released state resident population estimates for July 2018 and revised data for prior years. The new data identify population shifts and affect certain formulas.
The U.S. population continues to grow at historically low rates. Not only was this year’s increase of 0.62% the lowest in recent years, but last year’s estimate was also revised downward. Nevada and Idaho were the fastest-growing states, with growth greater than 2%. Nine states and Puerto Rico registered population declines.
This Issue Brief summarizes the new population estimates and calculates their effect on calendar year (CY) 2019 tax-exempt private activity bond limitations and fiscal year (FY) 2020 Social Services Block Grant (SSBG) allocations.