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.