Parole eligibility — Class C or Class D felonies committed on or after April 1, 1983, but before January 1, 1994

A person who commits a Class C felony or Class D felony on or after April 1, 1983, and who is incarcerated therefor is eligible for release on parole after having served one-third (⅓) of his or her sentence, with credit for good-time allowances, or one-third (⅓) of the time to which his or her sentence is commuted by executive clemency, with credit for good-time allowances.