Warm the olive oil using the Instant Pot on Sauté function. Add the onion and bell pepper and cook until the onions are almost translucent.
Stir in the tomato, garlic, jalapeno and cilantro and cook for about 60 seconds, then turn off the heat.
Stir in the taco seasoning, sea salt, chicken stock, dry beans and bay leaf. Be sure nothing is stuck to the bottom of the pot to prevent a burn warning.
Close the lid and cook on High Pressure for 60 minutes. Use a full natural pressure release, then open the lid. Stir, taste and adjust spices.
Serve as a side dish with your favorite meal or in a bowl on their own for lunch.