RALEIGH, N.C. — Republican legislative leaders in North Carolina and Democratic Gov. Roy Cooper say they have an agreement to end the state’s so-called “bathroom bill” that they hope will drive away negative national attention and remove obstacles to expanding businesses and attracting sporting events.

But they’ll have to get enough votes in the House and Senate for a proposal set for debate Thursday so the replacement measure for the March 2016 law known as House Bill 2 can reach Cooper’s desk.

Social conservatives in the General Assembly would prefer to have HB2 stay on the books. Gay rights groups oppose the replacement measure because it would still restrict LGBT protections from discrimination. Political repercussions exist for legislators and Cooper.

Cooper, who was elected governor last November with support from LGBT forces and on a platform that included a complete repeal of HB2, said in a release that he supported the compromise unveiled Wednesday shortly before midnight by GOP lawmakers.

“It’s not a perfect deal, but it repeals House Bill 2 and begins to repair our reputation,” Cooper said.

The late-night announcement came as the NCAA had said North Carolina sites won’t be considered for championship events from 2018 to 2022 “absent any change” in House Bill 2, which it views as discrimination. The NCAA said decisions would be made starting this week on events. North Carolina cities, schools and other groups have offered more than 130 bids for such events.

The NCAA already removed championship events from the state this year because of the law, which limits LGBT nondiscrimination protections and requires transgender people to use restrooms in schools and government buildings corresponding to the sex on their birth certificate.

HB2 has prompted some businesses to halt expansions and entertainers and sports organizations to cancel or move events, including the NBA All-Star game in Charlotte. An Associated Press analysis this week found that HB2 already will cost the state more than $3.76 billion in lost business over a dozen years.

The new proposal would repeal HB2 but would leave state legislators in charge of policy on public multi-stall restrooms. Local governments also couldn’t pass ordinances extending nondiscrimination protections in private employment and in places such as hotels and restaurants covering categories like sexual orientation and gender identity until December 2020.