In a large pot, heat olive oil over medium heat. Add smoked sausage and cook until browned.
Add onion, green bell pepper, red bell pepper, and garlic. Sauté until the vegetables are soft.
Stir in diced tomatoes, tomato sauce, kidney beans, pinto beans, rice, chicken broth, chili powder, smoked paprika, cayenne pepper, oregano, black pepper, and salt. Bring to a boil.
Reduce heat to low, cover, and simmer for about 30 minutes or until rice is cooked and liquid is absorbed.
Serve hot, garnished with chopped green onions and hot sauce if desired.
Notes
This dish can be customized with your favorite beans or vegetables.