Heat oil in a large deep skillet over medium-high heat.
Brown the beef, breaking it up, until no pink remains, 4–5 minutes. Drain excess fat.
Stir in onion and bell pepper. Cook until softened, about 3–4 minutes.
Add garlic, taco seasoning, and paprika. Cook 30 seconds until fragrant.
Mix in the rice and stir to coat. Toast for 1 minute.
Pour in broth and tomatoes. Add corn and beans, scraping up browned bits.
Bring to a boil. Reduce heat to low, cover, and simmer 18–20 minutes until rice is tender.
Remove from heat and fluff the rice with a fork.
Stir in half the cheese, lime juice, and cilantro. Top with remaining cheese, cover 2 minutes to melt. Adjust salt and pepper.