Here is some information i found about what the proposed requirements are going to be for the Sport Pilot License. It looks like you would not need a medical and you can carrie up to 1 passenger at a time but you need an endorsment from a certified light sport instructor.
Training and FAA tests will be required.
Ultralight training and experience can be credited toward Sport Pilot License.
Training period is substantially less than Private Pilot, probably about 25 hours.
Time will be loggable for further ratings.
3rd-class medical
or state driver's license.
Controlled airports accessible with advance permission (phone or radio).
Not for hire.
Day VFR only.
Recreational, private and commercial pilots - easy conversion to Sport Pilot.
Aircraft (Light-Sport Aircraft):
Maximum Gross Takeoff Weight of 1,232 lbs (560 kg.) or less.
Maximum stall speed - landing configuration (Vso): 39 knots or less
Maximum stall speed-landing configuration (Vs1) without the use of lift-enhancement devices: 44 knots or less
Maximum speed in level flight with maximum continuous power (Vh) of 115 knots
Two-place maximum (pilot and one passenger)
Single, non-turbine engine only
Fixed or ground adjustable propeller
Unpressurized cabin
Fixed landing gear
Seaplanes may have repositionable landing gear that would allow the wheels to be rotated for amphibious
operation.
Day VFR only.
Can be licensed Experimental if kit- or plans-built.
Owner can maintain.
A sport pilot may fly any aircraft that meets the definition of a light-sport aircraft, but the aircraft does not need to be certificated as a light-sport aircraft: A sport pilot may fly an aircraft certificated as an Experimental amateur-built aircraft. A pilot who holds a private pilot certificate, or higher, may elect to fly a "light-sport aircraft" while exercising the privileges of his/her private pilot certificate.
The NPRM establishes two new aircraft airworthiness certificates in the "Special" category: a "Special light-sport" aircraft and an "experimental light-sport aircraft." The Special light-sport airworthiness certificate will apply only to new factory-built, ready-to-fly aircraft, and not to kit-built aircraft. This category of light-sport aircraft may be used for sport and recreation, flight training, or rental.
The Experimental light-sport aircraft category will encompass a new category of kit-built light-sport aircraft. The maintenance requirements for these aircraft will be similar to the maintenance procedures required of many amateur-built aircraft. Experimental light-sport aircraft may be used for sport, recreation, and for non-compensated flight training.
New EAA Website:
www.sportpilot.org