WASHINGTON — State and local governments will be able issue a total of $33.170 billion of private-activity bonds under a national volume cap next year — 1.1% or $349.01 million more than in 2012.

The increase is based on the latest population figures released Thursday by the Census Bureau and a new PAB cap formula published by the Internal Revenue Service in November.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.