Melt butter in a large nonstick skillet over medium-high heat.
Add onions and red peppers; cook for 3 minutes.
Stir in garlic and continue to cook for 30 seconds.
Add rice and cook, stirring often, for 2 minutes.
Stir in diced tomatoes with green chilies, black beans, and corn.
Season with cumin, salt and fresh ground pepper.
Stir in vegetable broth and bring to a boil.
*Cover, reduce heat to low, and cook for 15 to 20 minutes, or until liquid is absorbed.
Remove cover, fluff with fork and stir in cilantro and lime juice.