1 cup white rice
2 cups water
1 (6 ounce) can sliced black olives
1 (4 ounce) can diced green chiles
1 (16 ounce) container sour cream
1 1/2 cups shredded Monterey Jack cheese
1 cup shredded Cheddar cheese
1/4 teaspoon paprika
Combine rice and water in a medium saucepan. Cover. Bring to a boil, and reduce heat to low. Simmer for 20 minutes, or until done.
Preheat oven to 325 degrees F (165 degrees C). Grease a deep, 2 quart baking dish.
In a small bowl, mix together olives, chile peppers, and sour cream. Set aside.
Spread 2/3’s cooked rice in bottom of baking dish. Place sour cream mixture on top of rice, and cover with Monterey Jack cheese. Spread remaining rice on top of cheese.
Bake for 25 minutes. Remove from oven, and cover with shredded Cheddar cheese. Sprinkle paprika over the top. Continue baking until the cheese melts, about 5 minutes.