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COOK hamburger patties in large nonstick skillet on medium heat 10 min. Turn hamburger patties; add peppers. Cook until hamburger patties are cooked through and peppers are crisp-tender, stirring peppers occasionally.
ADD spaghetti sauce, water and chili powder. Bring to boil.
STIR in rice; cover. Reduce heat to low. Simmer 5 min. Sprinkle with cheese; cover. Let stand 5 min. before serving.