Democrats in both of Virginia's legislative chambers say they have reached a budget deal in principle and expect a final document Friday.
Prince William County Delegate and House Finance Chair Luke Torian confirmed the situation Thursday afternoon.
The budget must be approved by both chambers and signed by Governor Abigail Spanberger by July 1.
Negotiations had been stalled for weeks over a state tax exemption for data centers. Senator Louise Lucas wanted the exemption removed. House negotiators and Governor Abigail Spanberger worried that removing the exemption would jeopardize existing agreements between the state and data center operators. A compromise began to form earlier this week around a new impact fee or consumption tax on the industry. That structure would produce about the same amount of revenue, about a billion dollars, that the state loses to the existing tax exemption.
The state Senate is scheduled to return to Richmond Monday, though the House, which canceled their budget vote scheduled for today to continue negotiations, needs to vote on the agreement first.
The document must be public 48-hours before they can vote on it.
