FL S0654

Creates "social purpose corporations" and "benefit corporations" as new corporate structures in Florida with requirements to create public benefits alongside traditional profit motives, governed by new sections 607.501-607.513 and 607.601-607.613.

Establishes that directors and officers of social purpose and benefit corporations must consider effects on shareholders, employees, customers, communities, and the environment when making decisions, with reduced personal liability for failing to achieve stated public benefits.

Allows social purpose and benefit corporations to designate independent "benefit directors" and "benefit officers" responsible for preparing annual benefit reports assessing the corporation's progress toward its public benefit purposes.

Amends corporate naming requirements for limited liability companies, corporations, limited partnerships, and other entities to clarify that names differing only by suffixes, articles, punctuation, abbreviations, or singular/plural forms are not considered distinguishable.

Grants shareholders appraisal rights when corporations convert to or terminate social purpose/benefit corporation status, and conforms cross-references throughout Florida statutes to organizational changes made by the act.