Heat oven to 375°. Spray 2 1/2-quart casserole with cooking spray.
Heat oil in 10-inch skillet over medium heat. Cook rice, onion and bell pepper in oil 6 to 8 minutes, stirring frequently, until rice is light brown and onion is tender. Stir in corn.
Mix remaining ingredients except cheese in casserole. Stir in rice mixture and 1 cup of the cheese.
Cover and bake 20 minutes; stir. Cover and bake about 30 minutes longer or until rice is tender; stir. Sprinkle with remaining 1 cup cheese. Bake uncovered 2 to 3 minutes or until cheese is melted.