The planned sale of the Kansas Bioscience Authority could advance this week. As Stephen Koranda reports, the State Finance Council will work on the issue Wednesday.
The Finance Council will consider merging the Bioscience Authority into the Kansas Department of Commerce. That has to happen before the state can sell off the assets of the organization.
Proceeds from the sale have already been counted in the state budget and a school funding proposal. The first $25 million netted from the sale would go to the budget. Anything over that would go to the school funding plan developed in response to a controversial state Supreme Court ruling.
The Bioscience Authority was created to foster companies and economic growth in areas such as human and animal health, but the organization has fallen out of favor with some lawmakers in recent years.