I think it is the supplement to the existing Senate bill, that Nancy is putting together, that will be called the reconcilation bill.
No, the changes that are made to the Senate bill are happening in the Conference Committee. The Conference Committee generates something called the Conference Report. The Conference Report then immediately goes to the House and Senate floors for an up or down vote, respectively. Due to Congressional rules, neither the House nor the Senate may be allowed to offer amendments to the Conference Report - BUT - the Senate rules that allow for the filibuster apply to Conference Reports as well. So, the Report itself CAN be filibustered, unless of course the Senate does away with the filibuster using a parliamentary maneuver known as "the nuclear option".
If the Conference Report is approved by both Houses, then it becomes the reconciled bill that travels to the President for his signature to then become law, or to be vetoed. The use of the root word "reconcile" causes some confusion in similar phrases and words, but with varying definitions and meanings.