1. (a) The fiscal body of a municipality located in a county may adopt an ordinance establishing a property maintenance area to provide certification of qualified expenditures on property in the property maintenance area. The ordinance shall be referred to as a PMA ordinance. The boundaries of a property maintenance area may not exceed five percent (5%) of the total land area of the municipality. The property maintenance area established under this section must be either:

   1. (1) a residentially distressed area; or

   2. (2) an area:

      1. (A) that contains the types of property listed or defined in the PMA ordinance; and
      2. (B) where the median assessed value of each type of property under clause (A) within the property maintenance area does not exceed the median assessed value for that type of property throughout the municipality.

2. (b) A municipality that adopts a PMA ordinance may provide grants to individuals who receive a PMA certification under this chapter. The amount of a grant provided under this subsection may not exceed the lesser of:

   1. (1) fifty percent (50%) of the qualified expenditures certified in the PMA certification; or
   2. (2) one thousand five hundred dollars ($1,500).

As added by P.L.144-2008, SEC.47.