15-32-103. Deduction for energy-conserving investments. (1) In addition to all other deductions from gross corporate income allowed in computing net income under chapter 31, part 1, a taxpayer may deduct a portion of the taxpayer's expenditure for a capital investment in a building for an energy conservation purpose, in accordance with the following schedule:
|If the installation or investment||If the installation or investment is made|
|is made in a residential building:||in a building not used as a residence:|
|100% of first $1,000 expended||100% of first $2,000 expended|
|50% of next $1,000 expended||50% of next $2,000 expended|
|20% of next $1,000 expended||20% of next $2,000 expended|
|10% of next $1,000 expended||10% of next $2,000 expended|
(2) This tax treatment is subject to approval of the department, as provided in 15-32-106, and may not be claimed for so much of the expenditure and capital investment as is financed by a state, federal, or private grant for energy conservation.