In a large skillet, cook the beef, onion and green pepper over medium heat until meat is no longer pink; drain. Add taco seasoning and water. Simmer, uncovered, for 10 minutes. Add the kidney beans, tomatoes and tomato sauce.
Bring to a boil. Reduce heat; add rice. Cover and let stand 5 minutes or until rice is tender. Drop rounded spoonfuls of refried beans over rice; heat through. Garnish with cheese and onions if desired.