(a) By agreement of the governing boards of two school districts, territory may be detached from one of the districts and annexed to the other district if, after the action:
(1) the local revenue level of the district from which territory is detached is equal to or less than the level established under § 48.257; and
(2) the local revenue level of the district to which territory is annexed is not greater than the dollar amount guaranteed level of funds provided under § 48.202(a-1)(2).
(b) The agreement is not effective unless the commissioner certifies that, after all actions taken under this chapter, the local revenue level of each district involved will be equal to or less than the applicable level permitted by Subsection (a).