Sprinkle baking soda over sliced steak in a large bowl and let sit for 15 minutes. Rinse steak thoroughly and pat dry with paper towels.
Combine steak with Montreal steak seasoning, garlic, and soy sauce. Let marinate for another 15 minutes.
Heat oil in a large skillet over medium-high heat. Add marinated steak and sear for 2 minutes. Reduce heat to medium and cook for another 4 minutes, or until no longer pink. Remove steak from skillet and set aside.
Add butter to the same skillet. Add yellow and red bell peppers and sliced onion. Sauté for about 4 minutes until softened. Season with salt and pepper.
Stir in tomato paste and cook for 2 more minutes, stirring occasionally.
Add cooked rice and reserved steak back into the skillet. Stir and cook for 2 minutes or until everything is heated through.
Remove skillet from heat. Spoon queso dip evenly over the mixture and top with shredded cheese. Place under broiler for 1 minute until cheese is melted and bubbly.
Garnish with chopped parsley, if desired. Serve hot.
Notes
Letting the steak sit in baking soda briefly helps tenderize it for a juicier bite. Use freshly cooked or leftover rice for convenience.