AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING CHAPTER 30 TO TITLE 27 SO AS ENACT THE "SOUTH CAROLINA HOMEOWNERS ASSOCIATION ACT", TO PROVIDE NECESSARY DEFINITIONS, TO PROVIDE RECORDING REQUIREMENTS FOR THE ENFORCEABILITY OF HOMEOWNERS ASSOCIATION GOVERNING DOCUMENTS, TO PROVIDE REQUIREMENTS CONCERNING HOMEOWNERS ASSOCIATION RULES AND REGULATIONS, TO PROVIDE HOMEOWNERS ASSOCIATIONS MUST COMPLY WITH CERTAIN NOTICE REQUIREMENTS BEFORE ADOPTING ANNUAL BUDGET INCREASES, AND TO PROVIDE MAGISTRATES COURTS HAVE JURISDICTION TO ADJUDICATE CERTAIN MONETARY DISPUTES BETWEEN HOMEOWNERS ASSOCIATIONS AND HOMEOWNERS; AND TO ENACT THE "DEPARTMENT OF CONSUMER AFFAIRS SERVICES FOR HOMEOWNERS AND HOMEOWNERS ASSOCIATIONS ACT", TO PROVIDE RELATED DEFINITIONS, TO PROVIDE REQUIREMENTS OF THE DEPARTMENT OF CONSUMER AFFAIRS CONCERNING THE RECEIPT AND PROCESSING OF COMPLAINTS INVOLVING HOMEOWNERS ASSOCIATIONS, TO AUTHORIZE THE DEPARTMENT TO INCLUDE CERTAIN RELATED INFORMATION AND EDUCATIONAL MATERIALS ON ITS INTERNET WEBSITE, TO PROVIDE THE DEPARTMENT SHALL COMPILE AND ANNUALLY REPORT CERTAIN RELATED DATA TO THE GOVERNOR AND THE GENERAL ASSEMBLY, TO PROVIDE THE DEPARTMENT SHALL POST THESE REPORTS ON ITS INTERNET WEBSITE, TO PROHIBIT THE DEPARTMENT FROM PROMULGATING CERTAIN RELATED REGULATIONS OR ISSUING CERTAIN RELATED GUIDELINES, AND TO PROHIBIT THE DEPARTMENT FROM ARBITRATING DISPUTES BETWEEN HOMEOWNERS AND HOMEOWNERS ASSOCIATIONS; AND TO AMEND SECTION 27-50-40, RELATING TO RESIDENTIAL PROPERTY CONDITION DISCLOSURE STATEMENTS, SO AS TO REQUIRE THESE STATEMENTS INCLUDE WHETHER PROPERTY IS SUBJECT TO GOVERNANCE OF A HOMEOWNERS ASSOCIATION WHICH CARRIES CERTAIN RIGHTS AND OBLIGATIONS THAT MAY LIMIT USE OF THE PROPERTY AND INVOLVE FINANCIAL OBLIGATIONS. - ratified title