Preheat oven to 350°F and grease a 9x13-inch baking dish or large casserole dish.
Layer the ingredients in this exact order: spread uncooked rice evenly on the bottom, then layer the corn over the rice.
In a bowl, mix together the tomato sauce and water or tomato juice, then pour half of this mixture over the corn layer.
Crumble the raw ground beef evenly over the tomato mixture and season with salt, pepper, and chili powder.
Layer the sliced onions over the ground beef, followed by the green bell pepper rings.
Pour the remaining tomato sauce mixture over the top and arrange the bacon pieces on the very top layer.
Cover the dish tightly with aluminum foil and bake for 75 minutes.
Remove the foil and bake for an additional 15 minutes to allow the top to brown slightly.
Let the casserole rest for 10 minutes before serving to allow the layers to set.