Position a rack in the center of the oven and pre-heat to 350°F.
Spray a 9 x 13-inch glass baking dish generously with non-stick cooking spray.
Place the biscuits in a single layer in the baking dish, pressing them together to create one layer of dough.
Transfer to the pre-heated oven and bake until golden; about 12 minutes; when biscuits are baked do not turn off the oven.
While the biscuits bake, add 1 tablespoon of oil to a large heavy-duty skillet, over medium heat; when the oil shimmers, add the ground beef and cook, stirring occasionally, until no longer pink; about 10 minutes.
Remove from heat; drain most of the excess fat from the skillet; add the taco seasoning, water and salt, to taste.
Return to heat; continue to cook, stirring occasionally, until the water evaporates; 3 to 4 minutes; remove from heat; transfer to a bowl and set aside.
Add the remaining 1 tablespoon of oil to the skillet; when the oil shimmers, add the onions, bell peppers and salt, to taste; cook over medium heat, stirring occasionally until tender; about 10 minutes.
Add the tomatoes and continue cooking, stirring occasionally, until the tomatoes are warmed through; about 3 minutes; remove from heat; set aside.
In a medium bowl, combine the sour cream, half the cheddar and the jalapeños.
Layer the ingredients evenly on top of the baked biscuit crust in this order; ground beef, onion-pepper-tomato mixture, sour cream-cheddar mixture, then top with the remaining cheese.
Place in the pre-heated oven and bake until the cheese is bubbling and beginning to brown slightly; about 20 minutes.
Remove from the oven; let sit 5 minutes before serving.