(5) The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 36B the following new item: Sec. 36C. Credit for excess minimum tax on certain wealthy taxpayers. . (f) Sense of Congress regarding State residency rules It is the sense of Congress that the taxation by the several States of extreme wealth is in the public interest and that silence on the part of Congress shall not be construed to impose any barrier to the use of reasonable residency rules, including such rules that apportion a tax on deemed sales or extreme wealth over no more than five years, by the several States or the District of Columbia. (g) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.