Crumble the beef into an ungreased 2-1/2-qt. microwave-safe dish. Add onion and green pepper. Cover and microwave on high for 4-1/2 minutes or until meat is no longer pink, stirring every 2 minutes; drain.
Stir in the beans, tomatoes, tomato sauce, water, taco seasoning and chili powder. Cover and microwave on high for 3-1/2 to 4-1/2 minutes or until bubbly, stirring every 2 minutes. Stir in rice.
Transfer to a shallow 2-1/2-qt. microwave-safe dish coated with cooking spray. Cover and let stand for 6-8 minutes or until liquid is absorbed. Sprinkle with cheese. Cover and microwave on high for another minute or until cheese is melted. Yield: 8 servings.