Deduction For Energy-Conserving Investments

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.