A repost from http://www.senate.gov.ph/about/legpro.asp#Summary.
Please see the site for the details.
Filing/Calendaring for First Reading
A bill is filed in the Office of the Secretary where it is given a corresponding number and calendared for First Reading.
First Reading
Its title, bill number, and author’s name are read on the floor, after which it is referred to the proper committee.
Committee Hearings/Report
Committee conducts hearings and consultation meetings. It then either approves the proposed bill without an amendment, approves it with changes, or recommends substitution or consolidation with similar bills filed.
Calendaring for Second Reading
The Committee Report with its approved bill version is submitted to the Committee on Rules for calendaring for Second Reading.
Second Reading
Bill author delivers sponsorship speech on the floor. Senators engage in debate, interpellation, turno en contra, and rebuttal to highlight the pros and cons of the bill. A period of amendments incorporates necessary changes in the bill proposed by the committee or introduced by the Senators themselves on the floor.
Voting on Second Reading
Senators vote on the second reading version of the bill. If approved, the bill is calendared for third reading.
Voting on Third Reading
Printed copies of the bill’s final version are distributed to the Senators. This time, only the title of the bill is read on the floor. Nominal voting is held. If passed, the approved Senate bill is referred to the House of Representatives for concurrence.
At the House of Representatives
The Lower Chamber follows the same procedures (First Reading, Second Reading and Third Reading).
Back to the Senate
If the House-approved version is compatible with that of the Senate’s, the final version’s enrolled form is printed. If there are certain differences, a Bicameral Conference Committee is called to reconcile conflicting provisions of both versions of the Senate and of the House of Representatives. Conference committee submits report on the reconciled version of the bill, duly approved by both chambers. The Senate prints the reconciled version in its enrolled form.
Submission to Malacañang
Final enrolled form is submitted to Malacañang. The President either signs it into law, or vetoes and sends it back to the Senate with veto message.

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