(a) The uniform standards of professional appraisal practice as promulgated by the appraisal standards board of the appraisal foundation in effect on March 1, 1992, for all dates of valuation on or after January 1, 1993, are hereby adopted upon the effective date of this act as interim standards.

(b) Rules and regulations or appraiser directives promulgating appraisal standards adopted by the director of property valuation shall be proposed not later than six months and shall be adopted in final form and become effective not later than 12 months following the effective date of this act.