In a large pot, over medium heat, heat up the olive oil.
Add in the ground beef, diced onions, diced bell pepper, minced jalapeno, and taco seasoning. Break apart the ground beef using a wooden spoon. Cook until the ground beef is browned and the vegetables have softened.
Stir in the chicken broth, cooked rice, canned tomatoes, pasta sauce, and brown sugar.
Bring the soup to a simmer and let simmer for 20 minutes to thicken and let the flavours meld together.
Ladle the soup into bowls and top with shredded cheese, if desired.