Home Buyer's $15,000 Tax Credit?

Plus, we've had a few questions about the proposed $15,000 tax credit to home buyers.....

What we’ve heard is that the Senate approved to add to the proposed stimulus package a new tax credit that would give ALL home buyers (buying a primary, not just first-time buyers with the current $7,500 allowance) up to $15,000.

Proposed by Senator Isakson (R-Georgia) the tax credit would work like this: Buyers would get 10 percent of the purchase price of any primary home, up to $15,000, applied to their tax bill. Though the details remain to be finalized, the amendment would allow taxpayers to claim the credit on their 2008 taxes and will be recaptured if the home is sold within two years. The time frame for home purchases would be from the date of the stimulus’ enactment to one year thereafter.

The amendment verbiage can be found here: http://isakson.senate.gov/Amdt_106.pdf