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.