Massachusetts lawmakers are running out of time and there’s still no compromise on an ambitious bill to reel in the state's spiraling health care costs.

Senate Republican leader Bruce Tarr from Gloucester is on the conference committee charged with reconciling the House and Senate versions of the bill. He expected a compromise the week of July 30, but said he was concerned House and Senate members won't have adequate time to review and vote on the bill.

“I am somewhat disappointed we’re in a situation where this is happening in the 11th hour, because of the magnitude and the impact it will have not only on the health care situation with regard to being able to contain costs but also with regard to the impact the bill will likely have on the state’s economy, given the size the sector has in the economy,” Tarr said.

Gov. Deval Patrick said a couple of hard issues remained unresolved: “I wish it weren’t going down to the wire the way it seems to right now, but I think we’ll get a good bill.”

One sticking point is whether to impose a so-called "luxury tax" on hospitals that can’t justify their high prices. It’s one of the only enforcement measures in the bill. There’s been heavy lobbying by Boston-area hospitals against it. Senate President Therese Murray is opposed to the tax as is the governor. The House of Representatives is for it.

House and Senate negotiators have until July 31 to get a final cost-containment bill to the governor’s desk if they want it to pass this year.