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Directory Results for Revenue Procedure 2003-46 - Section 146 Volume Cap. This procedure provides relief to issuing authorities that failed to file 8328, Carry-forward Election of Unused Private Activity Bond Volume Cap, under section 146(f) of the Code for to Revenue Procedure 2003-50 - Relief and Automatic Extension. Additional first year depreciation. This procedure provides additional time for any taxpayer that timely filed its federal tax return for the taxable year that included September