State lawmakers have worked out an ethics overhaul that would cap lobbyist gifts at $75 and eliminate lobbying registration requirements for volunteer advocates.

Now all that’s left is for both the House and Senate to approve the changes before midnight Thursday, when the 40-day session ends for the year.

House and Senate leaders worked late last night and reached the agreement early Thursday after Gov. Nathan Deal urged them on Wednesday to reach a compromise.

“There were a lot of cynics and skeptics who felt like at the end of the day that we would not be able to do a bill, that our efforts would fall apart,” House Speaker David Ralston said. “But we did get a bill, and I think it’s a good bill.”

Under the plan, lobbyists will be allowed to give lawmakers gifts up to $75 — down from the $100 cap proposed by the Senate but a major concession from the House’s position that individual gifts be banned, albeit with numerous exceptions.

Exceptions to the $75 cap include committee dinners, dinners for caucuses and lobbyist-funded travel, with some limitations. Meals for local delegations — which could be as small as a single legislator — reportedly are not included.

As part of the deal, volunteers would not have to register as lobbyists unless they are reimbursed for $250 or more in expenses from an organization. The House pushed to expand lobbyist registration, angering advocates who had agitated for gift limits.

Ralston, who once called the Senate’s plan for a $100 cap a “gimmick,” said he was relieved a deal had been struck.

“Sometimes I think it’s more important that you do something rather than nothing. We moved the ball down the field,” he said. “For the first time we do have a limitation on spending and I think that’s important. I don’t get my way all the time. We’ll fight another day and keep moving the ball in that direction.”

Julianne Thompson, a tea party activist who advocated for an overhaul, was part of a group of conservative advocates briefed on the legislation this morning by Sen. Josh McKoon, R-Columbus. While she said she has not seen the bill itself, she said she was pleased with the compromise.

“Is it a perfect bill? No. But we are happy with the changes to the definition of lobbyists,” she said. “We know that Senate leadership went to the mat for us. We know they stood strong and were committed to making sure the First Amendment rights of conservative advocates were protected. We will never forget that.”

Thompson said she is concerned about some of the reported exceptions, but she said she wanted to read the bill closely before commenting.

Six lawmakers — three from each chamber — were assigned to work out differences in House Bill 142, the bill sponsored by Ralston. The conference committee never met publicly, but individual members met privately over the week in an attempt to work out an agreement.

House Republicans were briefed on the deal at a closed-door caucus meeting Thursday morning. House Majority Whip Edward Lindsey said he believes both chambers will strike a deal on the proposal before the session ends.

“It’s as close as you can get on ethics, and we’re not too far on guns,” said Lindsey, who declined to discuss specifics. “I’m not sure there is a sticking point on ethics, and there’s a broad agreement on guns, too. We just need to get it on paper.”

If the ethics bill passes Thursday, it will mark the first time lawmakers have agreed to limit the gifts, meals, tickets and other favors they receive from special interests. Such gifts already are down sharply as advocates have pushed for change.

Most rank-and-file members have yet to see the deal, yet some are hoping for quick approval. As the House GOP caucus let out, a lawmaker could be heard exhorting his colleagues:

“Now, don’t be fighting with each other today.”