(a) Except as otherwise provided in subdivision (b), if the commission wholly disapproves any proposal:
(1) No further proceedings shall be taken on that proposal.
(2) No similar proposal involving the same or substantially the same territory shall be initiated for one year after the date of adoption of the resolution terminating proceedings.
(b) The commission may waive the requirements of subdivision (a) if it finds those requirements are detrimental to the public interest.