S. 2942 would extend certain privileges and immunities to the Cooperation Council for the Arab States of the Gulf. Under current law, international organizations and their employees that enjoy such privileges and immunities are exempt from paying property taxes, customs duties, and taxes on imports, as well as from certain visa requirements and judicial proceedings. CBO estimates that a small number of people and properties would benefit under the bill, and that the forgone taxes, duties, fines, fees, and criminal penalties would be less than $500,000 each year, and over the 2017-2026 period. Pay-as-you-go procedures apply because enacting S. 2942 would affect direct spending and revenues.
CBO estimates that enacting S. 2942 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027.
S. 2942 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.