Free community college. Fare-free regional transit. Shelter funding. Here’s what’s in the $58 billion budget deal.

Among the most dramatic policy differences to survive was a plan championed by Senate President Karen E. Spilka for the state to cover tuition and fee costs for students at community colleges.

The state would fund the program at $93 million, using money generated by the new so-called millionaires tax, legislative leaders said. That would come on top of $24 million lawmakers also budgeted to extend a program it created last year to cover community college tuition for residents 25 years or older on a “last dollar” basis, meaning the state pays for whatever tuition costs not otherwise covered by financial aid or other scholarships.

Senate leaders have touted the program as smart economic policy, arguing that it would help bolster Massachusetts’ home-grown workforce while cutting costs, particularly for people of color, who account for roughly 55 percent of the student population at Massachusetts community colleges.

According to leaders in both the House and Senate, lawmakers plan to move the entire budget package to Governor Maura Healey’s desk on Friday, less than two weeks before lawmakers are scheduled to wrap up formal sessions for the year on July 31.

The compromise budget would increase spending about $1.97 billion, or 3.5 percent, over the budget for the fiscal year that ended July 1.

“It has no new taxes. It doesn’t dip into any big reserves. We’re very happy,” Senate budget chief Michael Rodrigues said outside the House clerk’s office Thursday evening. “It’s very fiscally responsible.”

Massachusetts is the last state with a fiscal year that began July 1 to not have an annual spending plan in place. The state has now gone 14 straight years with a late budget, having relied on one or more stopgap spending bills each year to keep state government running and thousands of employees paid. The current temporary spending plan covers through the end of July.

The spending agreement emerged at an uncertain time for the state’s finances. The Healey administration has yet to release a complete picture of the tax revenue for the fiscal year that ended June 30. Her budget office, however, said it will extend a freeze on state hiring in portions of the state government through the end of October, citing “volatility” in state tax revenue.

State government ended May $700 million ahead of its revenue projections for the fiscal year, but officials have said they believe most of that unexpected revenue was generated by the new surtax on annual income exceeding $1 million and from taxes on capital gains. That’s money that officials largely can’t use to balance the budget.

While Healey will almost certainly sign the bill, she has 10 days to review it and wield line-item veto power, which enables her to send provisions back to the Legislature with amendments, if she wants.

Here are some of the biggest items on the table:

The plan would dedicate $500 million to the strained emergency shelter system — a substantial figure that still is $400 million short of the $915 million Healey’s administration has said the program would need to stay afloat this year.

Last fall, amid a crush of migrants fleeing unrest in their home countries, Healey for the first time imposed a limit on how many families can stay in the shelter system, which guarantees food and shelter for homeless families or pregnant people. The system hit that cap of 7,500 families last fall.

Senator Michael Rodrigues, the chamber’s budget chief, openly acknowledged lawmakers may have to provide additional funds to keep the shelter system afloat, as they did twice in the last fiscal year.

The budget also includes $475 million to continue providing grants under the day care and early learning program known as Commonwealth Cares for Children, which state lawmakers had first allocated during the COVID-19 pandemic.

The proposal sets aside 50.5 percent of the money aside for child care providers who serve low-income families, and limits grant funding to just 1 percent for for-profit, multistate, or franchised providers such as Bright Horizons and KinderCare.

To help pay for the grants, the proposal authorizes the lottery to sell its products online, a controversial policy that lawmakers project will bring in $100 million in the next fiscal year — all of which would go toward the grant program.

The creation of the so-called iLottery has been the subject of intense debate, with Treasurer Deborah Goldberg and the House seeking to expand where the lottery can sell its wares while brick-and-mortar retailers pushed back, fearing it would eat into their sales. The average Massachusetts resident spends among the most, if not the most, on the lottery of anyone in the country.

At an event last year, Attorney General Andrea Campbell expressed her concern that without guardrails, the iLottery could lead to “a potential public health crisis.”

“We want to make sure . . . that it’s not encouraging folks to bet when they don’t have any money or play when they don’t have any money,” Campbell said.

House budget chief Aaron Michlewitz said Campbell’s concerns were taken into account, and that leaders are “just trying to keep the lottery competitive with some of the other issues that are out there.”

The proposal also would direct $20 million to the “Literacy Launch” program, a new initiative that aims to ensure schools, teachers, and students ages 3 through third grade have access to high-quality reading instruction. Last year, the Globe found that outmoded methods of reading instruction leave students struggling in nearly half of Massachusetts school districts.

The budget dedicates $447 million to the MBTA beyond the share the cash-strapped agency already receives of state sales tax revenue. However, the T’s $3 billion budget for the current fiscal year requires the agency drain its entire rainy day fund to cover day-to-day expenses. The plan also includes $204 million in funding for the state’s 15 regional transit agencies, including money to allow them to provide fare-free bus service.

The budget also includes a plan to close the state’s oldest men’s prison, a medium-security facility in Concord, would make changes to the promotion process for State Police, and would allow people to change the sex listed on their birth certificate, marriage record, or driver’s license.

Matt Stout can be reached at [email protected]. Follow him @mattpstout. Samantha J. Gross can be reached at [email protected]. Follow her @samanthajgross.