Heat a large nonstick skillet over medium heat. Crumble ground beef into the skillet and add diced onion and peppers. Cook until meat is no longer pink and vegetables are tender; 5-7 minutes. Drain any excess grease.
Season with salt and pepper, and add minced garlic, chili powder, paprika, cumin and tomato bouillon. Saute for 1 minute, then add corn, green chiles, tomato paste, juice from one lime and water. Cook for 5-7 minutes or until mixture is reduced and thickened.
Turn heat up to medium-high and stir in rice. Cook for about 4-5 minutes, stirring occasionally. *For crispy bits of rice, press down on the mixture after each stir and let sit for 1-2 minutes each time.
Remove from heat and juice the second lime over the rice and stir.
Divide into bowls and garnish with cilantro (optional) and lime wedges.