Visa Waiver for Israel Act of 2012 - Includes Israel in the visa waiver program upon the Secretary of Homeland Security's (DHS) determination that Israel: (1) has entered into an agreement with the United States to report, or make available through Interpol or other means, information about passport theft or loss; (2) has entered into an information sharing agreement with the United States regarding whether Israeli citizens and nationals traveling to the United States represent a U.S. security threat; (3) cooperates with the U.S. government on counterterrorism initiatives, information sharing, and preventing terrorist travel; (4) issues all new and reissued passports with biometric identifiers; and (5) has made every reasonable effort, without jeopardizing Israeli security, to ensure that reciprocal privileges are extended to all U.S. citizens.