In a large deep skillet, over medium-high heat, brown ground beef with diced onion and garlic until no pink remains, breaking up with a meat chopper or wooden spoon. Drain excess fat.
Add peppers, Italian seasoning, beef broth, tomatoes, salsa, tomato paste, rice, salt, and pepper.
Bring to a boil, reduce heat to a simmer, and cover. Simmer 25 minutes or until rice is tender. Add additional beef broth if needed.
Once rice is tender, sprinkle parmesan and pepper jack cheeses on top and cover until cheese is melted. Broil 2-3 minutes to brown cheese if desired.