(a) Death Sentence. An individual under sentence of death is not eligible for release on parole.
(b) Life Imprisonment.
(1) An individual sentenced to life imprisonment prior to March 1, 1968, and any individual sentenced to life imprisonment after February 12, 1969, and before April 1, 1977, is not eligible for release on parole unless the sentence is commuted to a term of years by executive clemency. When the life sentence is commuted to a term of years, the individual is eligible for release on parole after having served one-third (1/3) of the time to which the life sentence is commuted, with credit for good-time allowances.
(2) An individual sentenced to life imprisonment on and after March 1, 1968, and prior to February 12, 1969, is eligible for release on parole after he or she serves fifteen (15) years of the sentence, with credit for good-time allowances not to exceed five (5) years.
(c) Sentence of Years. An individual sentenced to a term of years in the Department of Correction or the Division of Correction after February 11, 1976, and before April 1, 1977, is eligible for release on parole after he or she serves the following terms:
(1) An individual sentenced to a term of years for other than a Class Y felony who is confined in the department or division for the second time is eligible for release on parole after he or she serves one-third (1/3) of the time for which sentenced, with credit for good-time allowances, or one-third (1/3) of the time to which sentence is commuted by executive clemency, with credit for good-time allowances. However, a judge may require one-half (½) of the sentence as imposed, or one-half (½) of the sentence as commuted by executive clemency, to be served, with credit for good-time allowances; and
(2) An individual sentenced to a term of years who is confined in the department or division and who pleads guilty to or is convicted of a Class Y felony or who has previously been confined in the department or division two (2) or more times is eligible for release on parole after he or she serves one-half (½) of the time to which the sentence is commuted by executive clemency, with credit for good-time allowances.
(d) Notwithstanding the provisions of subsections (a)-(c) of this section, the court may require anyone convicted of a crime involving the use of a deadly weapon to serve one-half (½) of the time for which sentenced, with credit for good-time allowances.