(a) [amended 9/1/95] A court may punish a defendant who is convicted of a state jail felony by imposing the confinement permissible as punishment for a Class A misdemeanor if, after considering the gravity and circumstances of the felony committed and the history, character, and rehabilitative needs of the defendant, the court finds that such punishment would best serve the ends of justice.

(b) When a court is authorized to impose punishment for a lesser category of offense as provided in Subsection (a), the court may authorize the prosecuting attorney to prosecute initially for the lesser category of offense.

(a) A court may punish a defendant who is convicted of a third degree felony by imposing the confinement permissible as punishment for a Class A misdemeanor, a fine not to exceed $10,000, or both such fine and confinement, or may punish a defendant who is convicted of a state jail felony by imposing the confinement permissible as punishment for a Class B misdemeanor, a fine not to exceed $10,000, or both such fine and confinement if, after considering the gravity and circumstances of the felony committed and the history, character, and rehabilitative needs of the defendant, the court finds that such punishment would best serve the ends of justice.