TAP Modernization Act of 2012 - Directs the Secretary of Labor, during the three-year period beginning on the date of enactment of this Act, to provide the Transition Assistance Program (TAP) to veterans and their spouses at locations other than military installations in at least three and up to five states selected by the Secretary based on the highest rates of veteran unemployment.
Requires reports from both the Secretary and the Comptroller General to Congress on such TAP training.