Housley’s net assets in $4 million to $10 million range

The Republican viewed as the heavy favorite to take on Democratic Sen. Tina Smith in November has financial assets of at least $3.7 million and possibly more than $10 million, according to a financial disclosure form filed this week with the U.S. Senate.

State Sen. Karin Housley, R-St. Marys Point, had until Tuesday to submit her first form. Smith, who is less than six months into her new job, filed a form in early May putting her family's net worth between $5 million and $12 million.

Housley is a second-term state legislator, a position that pays $43,000 per year. Outside the Capitol, she has a real estate job that earned her about $123,000 in commissions last year. Her husband, Phil, is head coach of the National Hockey League's Buffalo Sabres; his exact salary isn't disclosed and instead listed as more than $1,000.

Phil Housley's hockey career figures heavily into the family's assets. A trust fund connected to his playing days with the Winnipeg Jets is valued at $1 million to $5 million. Many of the family's financial holdings are annuities, mutual funds and brokerage accounts, not specific company stocks.

Liabilities in Housley's report include a pair of home mortgages of between $500,000 and $1 million in total.

Housley is seeking the GOP endorsement in the Senate race, which will be decided at the party's June convention in Duluth. There are several lesser-known Republican candidates who have opened campaign committees.

Smith, the state's former lieutenant governor, faces a primary challenge from University of Minnesota law professor Richard Painter, a former Republican who served in the White House under then-President George W. Bush.

Minneapolis attorney Nick Leonard has also announced a campaign and said he will seek the DFL Party endorsement at a June convention in Rochester.

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