(a) In the absence of an agreement or arrangement with another jurisdiction, the Administrator may examine the laws and requirements of the other jurisdiction and declare the extent and nature of benefits, privileges, and exemptions to be extended to vehicles registered or licensed in that jurisdiction or to the owners of the vehicles.
(b) In the judgment of the Administrator, the benefits, privileges, and exemptions to be declared under this section shall be in the best interest of and fair and equitable to this State and its citizens, as determined on the basis and recognition of the benefits that accrue to the economy of this State from the uninterrupted flow of commerce.