SECTION 3. SCOPE

.01 This revenue procedure provides relief if a Form 8328 was filed by an allocating authority to carry forward unused private activity bond volume cap arising in any calendar year prior to 2003 that was properly allocated to an issuing authority (other than the allocating authority). This revenue procedure only applies when all requirements of § 146 (other than the requirement that the issuing authority file the carryforward election containing the information required under § 146(f)) have been met.

.02 This revenue procedure does not limit an issuing authority’s ability to request relief under § 301.9100–3 of the Procedure and Administration Regulations. For example, if no carryforward election has been made for an issuing authority, that issuing authority may apply for relief under § 301.9100–3, Rev. Proc. 2003–1, 2003–1 I.R.B. 1 (or its successor), and Rev. Proc. 96–16, 1996–1 C.B. 630.