The correct answer is the first option.
After it has successfully passed both the House and the Senate, a bill must be revised by a subcommittee. Then, it has to be approved by both chambers and finally signed by the president.
It is the president who reviews the bill. If he signs the bill, it will become a law. However, If the president doesn't want to pass the law, he will reject the bill and send it back to the Congress with a note explaining the reasons.