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Step 1
Preheat the oven to 350 degrees F (175 degrees C) and lightly grease a 9x13-inch baking pan.
Step 2
Place and press biscuit dough into the bottom of the baking pan and halfway up the sides.
Step 3
Bake in the preheated oven until lightly browned, 15 to 20 minutes. Leave the oven on.
Step 4
Meanwhile, heat a nonstick skillet over medium-high heat and cook ground beef until browned and crumbly, about 5 minutes. Drain fat. Stir in taco seasoning and water. Bring to a boil, reduce heat, and simmer, stirring occasionally, for 5 minutes. Transfer cooked meat to a bowl and wipe out the skillet.
Step 5
Add onion and bell peppers to the same skillet and cook over medium heat until slightly tender, about 5 minutes.
Step 6
Combine sour cream, mayonnaise, 1/2 of the Cheddar cheese, and 1/2 of the onions in a bowl.
Step 7
Layer browned meat, tomatoes, pepper-onion mixture, jalapeno peppers, and sour cream mixture on top of the prebaked biscuit dough. Sprinkle with remaining Cheddar cheese.
Step 8
Bake uncovered in the preheated oven at 350 degrees F (175 degrees C) until cheese is lightly browned and bubble, 30 to 40 minutes.