Notwithstanding the provisions of § 4-1.05b.3 of this act, the Governor is authorized to increase from the unexpended cash balance in the Mass Transit Fund on June 30, 1998 and June 30, 1999, the amounts in the Mass Transit Assistance and Rail Assistance programs to provide for outstanding obligations. All such increases made in accordance with the provisions of this item shall be reported by the Governor to the Chairmen of the House Appropriations, House Finance and Senate Finance Committees.