That is correct.One detail that I haven't seen in other autocycle laws: the tadpole configuration is a requirement (2 front wheels, 1 rear). So I guess an autocycle with one front-two rear wouldn't count as an "autocycle" by Iowa law, but instead would still be a motorcycle.
Can't WAIT to see the looks on the truck drivers' faces when I go cruzin' down I-80 in my Elio!