(1) Each person convicted of an offense against the state committed on or after July 1, 1986, sentenced and confined in a state correctional facility for any term other than life, may be awarded a meritorious conduct reduction of their sentence by the director of the department of correction. Meritorious conduct reduction of the sentence may be awarded when an inmate completes an extraordinary act of heroism at the risk of his own life or for outstanding service to the state of Idaho which results in the saving of lives, prevention of destruction or major property loss during a riot, or the prevention of an escape from a correctional facility. The award of a meritorious conduct reduction may be given under rules adopted by the Idaho board of correction. The number of days awarded may not exceed fifteen (15) days for each month sentenced.