The development length is the code defined length required in order to develop the bar for its intended tensile load. In the case of a single span simple beam with a uniformly distributed load, your reinforcement would need to extend this development distance (ld) on each side of the span’s centerline before you can begin to curtail the reinforcement (ACI 12.10.4). As an example, this would be the length of (4) bottom bars required to carry the maximum moment.
A cut off point is the location on a beam where a lesser amount of theoretical reinforcing is required. For the same simple span beam, this cut-off point would occur some distance away from the span’s centerline. The amount of steel at this location would be calculated per the reduced moment. As an example, this might be a location where you only need (2) bottom bars to carry the load as opposed to the (4) bars required at center span. Be aware that the code requires you to extend bars past this theoretical cut off point, typically the effective depth or 12 bar diameters (ACI 12.10.3).
You must satisfy the two conditions above, as well as maintaining minimum steel requirements, considerations given to shear at these cut off locations, the potential for additional stirrups... this can get quite involved for different beam configurations.
Note: I’m referencing ACI 318-11 in the sections above