Modifying the authority of development authorities to extend the +duration of tax increment financing (TIF) districts to eliminate deficits caused +by the property tax changes; redefining qualifying obligations as + preexisting obligations and establishing a state grant program to offset deficits+ in the ability to pay preexisting obligations caused by the repeal of the +state determined general education property tax levy and partial +replacement with state general tax, defining certain terms, specifying grant +qualification and application requirements and providing for administration by the +commissioner of revenue (ra)