Using your 8 QT Instant Pot (cut recipe in half for a 6 QT) turn the saute function on and when the pot is hot add the onions, bell peppers, garlic and jalapenos. Saute until onions are translucent and everything is tender.
Add the rest of the ingredients and give it all a good stir. Put the lid on and make sure the steam valve is set to sealing. Select pressure cook or manual, make sure the the pressure level is set to high. Set the cooking time for 45 minutes.
When the cooking is done, allow the pressure to come down naturally for at least 20 minutes. After 20 minutes you can release the remaining steam by moving the pressure valve to Venting. Press Cancel, then carefully remove the lid, remove the 3 bay leaves before serving.
This can be frozen for future meals. I like to put it in my Souper Cubes in 1 or 2 cup portions.
Wonderful as a side dish or main dish. Serve over tostada shells, in tacos, burritos, over lettuce greens, chopped salads, in a nourish bowl with corn, lettuce, tomatoes, chipotle nacho cheese sauce and some oil free corn tortilla chips. Serve in a bowl with a little added water or vegetable broth for more of a chili soup along with a cornbread muffin. Enjoy!