Clarifying and modifying certain tax increment financing provisions; +clarifying the definitions of bonds, municipality and increment, correcting the +definition of redevelopment district and defining qualified housing district; +clarifying the requirement for TIF plans to include estimates of the cost of the+ project; providing for the computation of present values of projected tax +increments for city or county determination of the increased market value of the +site under municipal plan approval procedures, specifying certain statement of +reasons and supporting facts content requirements of the city or county and +defining site; modifying certain requirements for modification of TIF plans and +providing for application of the provision; eliminating the requirement to include +the amount budgeted under TIF plans in authority annual financial reports and +requiring inclusion of estimates contained in plans of project costs to be paid+ or financed with tax increment; modifying certain exceptions to the +duration limit for pre-1979 TIF districts, specifying certain priorities for +application of increments from the districts, requiring project or district +decertification upon payment in full or defeasement of bonds; requiring and providing+ for authority annual determination of district excess increments; +clarifying the limit on administrative expenses; expanding the authorized use of +revenue derived from housing district tax increments; defining revenues +derived from tax increments paid by properties in the district for pooling +restrictions purposes; clarifying the restriction on expenditures outside the +district; expanding the five year rule to expenditures for housing purposes; +clarifying the restriction on the use of revenues for decertification; +eliminating the requirement for the commissioner of revenue to approve the use of +increments outside the district for deficits elimination purposes; clarifying +certain tax increment computation provisions and the authority of the court to +abate damage amounts for certain violations; authorizing resolutions authorizing +interfund loans to generally grant authorities the power to make the loans +under one or more TIF plans or for one or more districts and authorizing +fluctuating maximum interest rates; clarifying the scope of the provision providing for +special deficit authority of authorities with preexisting districts and +correcting the definition of preexisting obligation; authorizing local government +units to add certain previously uncollected property tax abatement levies to +abatement levies for the current year; modifying the effective date for a +certain prior definition of tax increment (ja)