Also at:
PDF:
http://www.sportpilot.org/sportpilot_rule.pdf

WORD:
http://www.faa.gov/avr/arm/rulemakin...otRule7_19.doc

Basically:

From PART 1-DEFINITIONS AND ABBREVIATIONS
Light-sport aircraft means an aircraft, other than a helicopter or
powered-lift that, since its original certification, has continued to meet
the following:
(1) A maximum takeoff weight of not more than--

(i) 660 pounds (300 kilograms) for lighter-than-air aircraft;

(ii) 1,320 pounds (600 kilograms) for aircraft not intended for operation on
water; or

(iii) 1,430 pounds (650 kilograms) for an aircraft intended for operation on
water.

(2) A maximum airspeed in level flight with maximum continuous power (VH) of
not more than 120 knots CAS under standard atmospheric conditions at sea
level.

(3) A maximum never-exceed speed (VNE) of not more than 120 knots CAS for a
glider.

(4) A maximum stalling speed or minimum steady flight speed without the use
of lift-enhancing devices (VS1) of not more than 45 knots CAS at the
aircraft's maximum certificated takeoff weight and most critical center of
gravity.

(5) A maximum seating capacity of no more than two persons, including the
pilot.

(6) A single, reciprocating engine, if powered.

(7) A fixed or ground-adjustable propeller if a powered aircraft other than
a powered glider.

(8) A fixed or autofeathering propeller system if a powered glider.

(9) A fixed-pitch, semi-rigid, teetering, two-blade rotor system, if a
gyroplane.

(10) A nonpressurized cabin, if equipped with a cabin.

(11) Fixed landing gear, except for an aircraft intended for operation on
water or a glider.

(12) Fixed or repositionable landing gear, or a hull, for an aircraft
intended for operation on water.

(13) Fixed or retractable landing gear for a glider.



And from 61.23 Medical certificates: Requirement and duration

[A medical is not required for gliders and ballons - RWI]

(c) Operations requiring either a medical certificate or U.S. driver's
license. (1) A person must hold and possess either a valid medical
certificate issued under part 67 of this chapter or a current and valid U.S.
driver's license when exercising the privileges of-

(i) A student pilot certificate while seeking sport pilot privileges in a
light-sport aircraft other than a glider or balloon;

(ii) A sport pilot certificate in a light-sport aircraft other than a glider
or balloon; or

(iii) A flight instructor certificate with a sport pilot rating while acting
as pilot in command or serving as a required flight crewmember of a
light-sport aircraft other than a glider or balloon.

(2) A person using a current and valid U.S. driver's license to meet the
requirements of this paragraph must--

(i) Comply with each restriction and limitation imposed by that person's
U.S. driver's license and any judicial or administrative order applying to
the operation of a motor vehicle;

(ii) Have been found eligible for the issuance of at least a third-class
airman medical certificate at the time of his or her most recent application
(if the person has applied for a medical certificate);

(iii) Not have had his or her most recently issued medical certificate (if
the person has held a medical certificate) suspended or revoked or most
recent Authorization for a Special Issuance of a Medical Certificate
withdrawn; and

(iv) Not know or have reason to know of any medical condition that would
make that person unable to operate a light-sport aircraft in a safe manner.

Rich