JUNEAU, Alaska, July 23 (UPI) -- The Alaska House has approved a license for a Canadian energy company that wants to build a natural gas pipeline down the Alaska Highway to Alberta.

The Alaska House approved the plan offered by TransCanada Corp. (NYSE:TRP) of Calgary 24-16 late Tuesday, the Anchorage Daily News reported Wednesday.

During lengthy debate on the issue, some lawmakers said licensing TransCanada would be a step toward constructing an important super-pipeline, while critics predicted a state-subsidized failure.

The proposal was considered in a special session of the state Legislature called by Republican Gov. Sarah Palin.

The legislation, outlined in House Bill 3001, would allow TransCanada a license that carries up to $500 million in state funding to help plan a pipeline likely to cost more than $30 billion.