State Chartered Savings and Loan Association Regulatory Policy Act

State-Chartered Savings and Loan Association Regulatory Policy Act - Amends the National Housing Act to authorize State-chartered savings and loan associations to engage in any activity authorized by the State granting such charter. Directs the Federal Savings and Loan Insurance Corporation to issue regulations to establish standards and procedures for examination of such associations by the appropriate State. Provides that if any State fails to comply with such regulations, then the chartered associations in such State may not engage in activities (other than those already commenced) that are not permitted for Federal associations under the Home Owners' Loan Act of 1933.

Authorizes the Corporation to assess additional insurance premiums, until December 31, 1986, against those insured associations whose investments exceed the limitations imposed on Federal associations. Requires a report to Congress, not later than July 1, 1986, on such assessments.