Team A at A’s 2 yard line with 2:05 to play in the game and ahead by 9 points.

A2 takes the snap and fades back into his end zone. A73 holds in A’s end zone. A2 throws an interception which is returned by B3 for a touchdown.

Ruling: Team B may choose a safety rather than a TD if they so desire.

Canadian Ruling
 

EXCELLENT SCENARIO!!!!!!

May I use it for our year-end newsletter?

Oh yeah: In Canada, it's 6 or 2 at B's option.

Right from the Case Book!!!
 

Master chief is correct.
See 2004 NFHS Case Book <b>10.5.2 SITUATION A</B>
<i>A leads 16-7 with little time remaining in the fourth period. A is deep in its own territory. A1 goes back to pass from his own end zone. A2 holds B1. A1's pass is intercepted and returned for a touchdown. The captain of B asks to refuse the score and penalize the holding foul which would result in a safety. In this case, B would have a chance to score a touchdown and 2-point try to win the game. <b>RULING:</b> The penalty for the holding foul may be accepted or declined.</i>

Comment:
The situation should (perhaps) include that the hold by A2 occured in A's end zone for clarification purposes. The Case Book committee may have felt this wording was not necessary as the only way a safety is possible is if the hold was in A's end zone.
Message to the committee:
Clean it up, change sentence 3 to read,<b> A2 holds B1 in A's end zone.</b>

NF

B may take the penalty and get the safety and then get the ball back on the free kick (better chance to make 9 points). Or they can decline the penalty and take the touchdown.

They can not take the touchdown and have the penalty enforced on the try as the foul occurred prior to the change of possession.