National Cooperative Development Act - Directs the Secretary of Housing and Urban Development (HUD) to: (1) establish a National Cooperative Development Program to create jobs and increase economic development in underserved areas by promoting cooperative development; and (2) select, through a competitive process and enter into a grant agreement with, a national cooperative development center.
Defines "cooperative organization" as an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.
Defines "cooperative development" as specified technical assistance for the establishment of cooperative organizations.
Requires the national center to select local cooperative development centers.
Authorizes the national center to establish up to three local cooperative development centers in each of FY2012-FY2016.