by an amount equal to 10 percent of the amount of gain deferred by reason of subsection (a)(1)(A) with respect to such property. (B) Property held for 7 years For qualified hemp opportunity zone property held for at least 7 years, the basis of such property shall be increased by an amount equal to 5 percent of the amount of gain deferred by reason of subsection (a)(1)(A) with respect to such property. (c) Qualified hemp opportunity zone property For purposes of this section: (1) In general The term qualified hemp opportunity zone property means property which is— (A) qualified hemp opportunity zone stock, (B) qualified hemp opportunity zone partnership interest, (C) qualified hemp opportunity zone business property, or (D) an interest in a qualified investment fund. (2) Qualified hemp opportunity zone stock (A) In general Except as provided in subparagraph (B), the term qualified hemp opportunity zone stock means any stock in a domestic corporation if— (i) such stock is acquired by the taxpayer after December 31, 2019, 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 hemp opportunity zone business (or, in the case of a new corporation, such corporation was being organized for purposes of being a qualified hemp opportunity zone business), and (iii) during substantially all of the taxpayer’s holding period for such stock, such corporation qualified as a qualified hemp opportunity zone business. (B) Redemptions A rule similar to the rule of section 1202(c)(3) shall apply for purposes of this paragraph. (3) Qualified hemp opportunity zone partnership interest The term qualified hemp opportunity zone partnership interest means any capital or profits interest in a domestic partnership if— (A) such interest is acquired by the taxpayer after December 31, 2019, from the partnership solely in exchange for cash, (B) as of the time such interest was acquired, such partnership was a