“Electric bicycle” means a vehicle that: Is designed to be operated by human power with the assistance of an electric motor; Is equipped with fully operable pedals; Has two or three wheels; Has a motor with a rating of 750 watts or less; and Meets one of the requirements of subsection (b) of this section. A Class 1 electric bicycle is equipped with a motor that provides assistance only when the rider is pedaling and ceases to provide assistance when the bicycle reaches a speed of 20 miles per hour. A Class 2 electric bicycle is equipped with a motor that provides assistance whether or not the rider is pedaling the bicycle and ceases to provide assistance when the bicycle reaches a speed of 20 miles per hour. A Class 3 electric bicycle is equipped with a motor that provides assistance only when the rider is pedaling and ceases to provide assistance when the bicycle reaches a speed of 28 miles per hour.