(a) The board of trustees of a school district with a local revenue level in excess of entitlement may reduce the district’s local revenue level by executing an agreement to provide students of one or more other districts with career and technology education through a program designated as an area program for career and technology education.
(b) The agreement is not effective unless the commissioner certifies that:
(1) implementation of the agreement will not result in any of the affected districts’ local revenue level being greater than the level established under § 48.257; and
(2) the agreement requires the district with a local revenue level in excess of entitlement to make expenditures benefiting students from other districts in an amount at least equal to the amount that would be required for the district to purchase attendance credit under Subchapter D necessary, in combination with any other actions taken under this chapter other than an action under this section, to reduce the district’s local revenue level to a level that is equal to or less than the level established under § 48.257.