fund means any investment vehicle that invests in a qualified opportunity fund if— (A) such investment vehicle is organized as a domestic partnership for the purpose of investing in one more corporations or partnerships described in paragraph (1)(B), (B) all investments made in the investment vehicle are made in cash, and (C) not less than 95 percent of the assets of which are equity investments in corporations or partnerships described in paragraph (1)(B) as measured— (i) on the last day of the first 6-month period of the taxable year of the feeder fund, and (ii) on the last day of the tax- able year of the feeder fund. . (c) Effective date The amendments made by this section shall take effect on the date of the enactment of this Act. IV State and community dynamism fund 401. State and community dynamism fund (a) Establishment There is established a State and Community Dynamism Fund to support public and private investment, including capital for qualified opportunity zones designated under section 1400Z–1(a) of the Internal Revenue Code of 1986, and existing small business and community economic development programs and incentives, to underserved businesses and communities. (b) Allocation (1) In general Funds appropriated to the State and Community Dynamism Fund shall be allocated to States. (2) Formula (A) In general The Secretary of the Treasury shall determine the allocation by allocating Federal funds among the States based on the proportion of prime working age adults not employed in each State bears to the total of prime working age adults not employed for all the States. (B) Minimum allocation The Secretary shall adjust the allocations under subparagraph (A) for each State to the extent necessary to ensure that no State receives less than 0.9 percent of the Federal funds. (3) Requirement To receive an allocation under paragraph (2), a State shall certify that the State will use funds to— (A) build capacity in high-poverty, underbanked, rural, and otherwise underserved communities