Heat a large pot or dutch oven with a lid to medium heat. Lightly spray pot with cooking spray and place sliced sausage in skillet.
Cook sausage for 2-3 minutes until browned.
Add olive oil, chopped onion, peppers and garlic and let cook stirring occasionally for 5 minutes.
Add drained and rinsed beans and the undrained tomatoes with green chilis.
Add spices, broth and bay leaves (if using)
Bring mixture to a simmer, reduce heat to low, cover, and let simmer for at least 30 minutes.
15 minutes before serving, add in the rice, stir well and cover.
Stir well and fluff rice.
