Contracting Oversight for Small Business Jobs Act of 2012

Contracting Oversight for Small Business Jobs Act of 2012 - Amends the federal criminal code to include under penalties for misrepresentation the willful misrepresentation of status as a small business for the purpose of obtaining, retaining, or completing a federal contract.

Amends the Small Business Act to provide that, in cases of small business fraud, including misrepresentation of status, the penalties provided shall not apply if the defendant acted in reliance on a written advisory opinion from a licensed attorney who is not an employee of the defendant. Requires the Administrator of the Small Business Administration (SBA) to: (1) issue rules defining an advisory opinion for such purposes, and (2) issue a compliance guide to assist businesses in accurately determining their small business status.

Establishes in the SBA an Office of Hearings and Appeals, headed by a Chief Hearing Officer, which shall: (1) impartially decide matters where Congress designates that a hearing on the record is required or which the Administrator designates by regulation or otherwise, and (2) contain the SBA's Freedom of Information/Privacy Acts Office.

Includes as a misrepresentation, for SBA purposes, any misrepresentation established by a preponderance of the evidence (in the case of debarment) or adequate evidence (in the case of suspension). Directs the Administrator to publish on the SBA website the standard operating procedures for such debarments and suspensions.

Directs the Administrator to report annually to the congressional small business committees on debarment and suspension actions.

Expresses the sense of Congress that the Administrator should present to the SBA Inspector General or the Attorney General any evidence of a violation of misrepresentation of small business status presented in a proceeding conducted by the Office of Hearings and Appeals.