COI Elimination Act This bill limits U.S. contributions to the United Nations pertaining to the U.N. Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel. Current law imposes a cap on the annual U.S. contribution to the U.N. budget. The bill lowers that cap by 25% of the amount budgeted for the commission unless the Department of State certifies to Congress that the commission has been abolished. After such a certification, the United States shall, subject to appropriations, provide to the United Nations an amount equal to all the contributions that were withheld under this bill. The bill also states that it shall be U.S. policy to seek the abolition of the commission and combat systemic anti-Israel bias in international bodies.