15-32-109. Credit for energy-conserving expenditures. (1) Subject to the restrictions of subsections (2) and (3), a resident individual taxpayer may take as a credit against the taxpayer's tax liability under chapter 30 a portion of his expenditure for a capital investment in a building for an energy conservation purpose, determined as follows:
     (a) in the case of an expenditure for a residential building, the lesser of:
     (i) $150; or
     (ii) 5% of the expenditure; and
     (b) in the case of an expenditure for a building not used as a residence, the lesser of:
     (i) $300; or
     (ii) 5% of the expenditure.
     (2) The credit or the sum of the credits under subsection (1):
     (a) may not exceed the taxpayer's tax liability; and
     (b) is subject to the provisions of 15-32-104.
     (3) There is no carryback or carry-forward of the credit permitted under this section, and the credit must be applied in the year the expenditure is incurred, as determined by the taxpayer's accounting method.

     History: En. Sec. 1, Ch. 480, L. 1981.