or exchanged. (d) Qualified opportunity fund For purposes of this section— (1) Qualified opportunity fund The term qualified opportunity fund means any investment vehicle which is organized as a corporation or a partnership for the purpose of investing in qualified opportunity zone property (other than another qualified opportunity fund) that holds at least 90 percent of its assets in qualified opportunity zone property, determined— (A) on the last day of the first 6-month period of the taxable year of the fund, and (B) on the last day of the taxable year of the fund. (2) Qualified opportunity zone property (A) In general The term qualified opportunity zone property means property which is— (i) qualified opportunity zone stock, (ii) qualified opportunity zone partnership interest, or (iii) qualified opportunity zone business property. (B) Qualified opportunity zone stock (i) In general Except as provided in clause (ii), the term qualified opportunity zone stock means any stock in a domestic corporation if— (I) such stock is acquired by the taxpayer after December 31, 2017, at its original issue (directly or through an underwriter) from the corporation solely in exchange for cash, (II) as of the time such stock was issued, such corporation was a qualified opportunity zone business (or, in the case of a new corporation, such corporation was being organized for purposes of being a qualified opportunity zone business), and (III) during substantially all of the taxpayer’s holding period for such stock, such corporation qualified as a qualified opportunity zone business. (ii) Redemptions A rule similar to the rule of section 1202(c)(3) shall apply for purposes of this paragraph. (C) Qualified opportunity zone partnership interest The term qualified opportunity zone partnership interest means any capital or profits interest in a domestic partnership if— (i) such interest is acquired by the taxpayer after December 31, 2017, from the partnership solely in exchange for cash, (ii) as of the time such interest was acquired,