FAR 1.1 defines Light Sport Aircraft:
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) 1,320 pounds (600 kilograms) for aircraft not intended for operation on water; or
(ii) 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 feathering 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 retractable landing gear, or a hull, for an aircraft intended for operation on water.
(13) Fixed or retractable landing gear for a glider.
A 150 is too heavy to qualify.