The House and Senate have agreed upon a budget, which is supposed to be voted on tomorrow (only 'yay' or 'nay'; no further changes are allowed to this version), and then it goes to Mitt. He gets it for 10 days, and can veto line items (but not add anything new). Then, the legislature can try to veto any of Mitt's vetoes with a 2/3 majority.
As it stands in the budget being voted on tomorrow, the Quinn Bill is being changed for all new police officers from 10-30% of salary to a flat annual rate between $6,000-$8,500. Also, towns not already providing Quinn benefits would be barred from doing so in the future. I have not found anything that definitively says if Quinn benefits for current PO's will be adjusted. I am sure we will see more in Friday and Saturday's papers.