In a large skillet, cook beef, onion and green pepper over medium heat until meat is no longer pink; drain. Stir in taco seasoning and water. Cook and stir until thickened, about 3 minutes; set aside.

Place chips in a greased 8-in. square baking dish. In a small bowl, stir refried beans; spread over chips. Top with beef mixture and cheese.

Bake, uncovered, at 375° for 15-20 minutes or until heated through. Top with lettuce, tomatoes and olives. Serve with sour cream and picante sauce. Yield: 4 servings.