DREDGE Act of 2012

Dredging for Restoration and Economic Development for Global Exports Act of 2012 or the DREDGE Act of 2012 - Modifies the project for navigation, Mississippi River Ship Channel, Gulf of Mexico to Baton Rouge, Louisiana, to direct the Secretary of the Army to: (1) achieve, operate, and maintain a navigation channel of 50 feet with respect to the portion of the project from Baton Rouge to the Southwest Pass sea buoy; (2) complete such work not later than the last day of the third fiscal year beginning after the enactment of this Act; (3) conduct a pilot disposal and sediment project in the Southwest Pass area to determine the cost-effectiveness of pump-out disposal operations for hopper dredges for environmental enhancement and dredged material disposal; and (4) consult with appropriate federal, state, and local agencies and stakeholders to determine the safe placement and timing of such pump-out disposal operations that protect, create, restore, and nourish coastal wetlands and aquatic habitat.

Requires: (1) all costs of such work to be treated as operation and maintenance costs, including the first costs of achieving a navigation channel of 50 feet; (2) the federal cost share of such work to be 100%; and (3) the Secretary to pay 100% of the costs of such work out of amounts made available from the Harbor Maintenance Trust Fund for operation and maintenance expenses.

Directs the Secretary to report to Congress on: (1) the cost and the environmental, storm damage reduction, and social benefits of the pump-out disposal operation; and (2) the total quantity of dredge material produced during operation and maintenance activities in the New Orleans District and the quantity that is beneficially used.