(a) Notwithstanding any other law, the City of Alameda may impose a transactions and use tax for general purposes that, in combination with all taxes imposed pursuant to the Transactions and Use Tax Law (Part 1.6 (commencing with Section 7251)), would not exceed the limit established in Section 7251.1 by more than 0.5 percent, if all of the following requirements are met:
(1) The city adopts an ordinance proposing the transactions and use tax subject to any applicable voter approval requirement.
(2) The ordinance proposing the transactions and use tax is submitted to the electorate and is approved by the voters voting on the ordinance pursuant to Article XIIIC of the California Constitution. The election on the ordinance proposing the transactions and use tax may occur after January 1, 2017.
(3) The transactions and use tax conforms to the Transactions and Use Tax Law (Part 1.6 (commencing with Section 7251)) other than Section 7251.1.
(b) Notwithstanding Section 7251.1, the tax rate authorized in subdivision (a) shall not be considered for purposes of the combined rate limit established by that section.