- Associated Press - Wednesday, July 20, 2016

TOPEKA, Kan. (AP) - Kansas Commerce Secretary Antonio Soave says he’s not sure how much the state could raise by selling the assets of the Kansas Bioscience Authority.

Soave said Wednesday the Department of Commerce needs to examine the authority’s investment portfolio more thoroughly to assess how much a sale of the assets can bring.

Measures approved by lawmakers this year anticipate the state raising $38 million to help public schools and keep the budget balanced.

Republican Gov. Sam Brownback and top legislators took a key step toward the sale Wednesday by approving the authority’s merger with the Department of Commerce. Soave said the assets could be sold by the end of the year.

The state created the authority in 2004 to nurture emerging bioscience companies, but Republicans have expressed disappointment with results.

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