Heat the oven to 375°F and coat a 9-by-13-inch baking dish with cooking spray.
Brown the beef in a large skillet over medium-high heat for 6 to 8 minutes, breaking it into small crumbles, until it reaches 160°F, then drain the excess fat.
Stir the rice, salsa, broth, salt, pepper and browned beef together in the baking dish until the rice is evenly distributed.
Cover the dish tightly with foil and bake for 35 minutes without lifting the foil.
Remove the foil, stir once from the edges toward the center and scatter the cheddar over the top.
Bake uncovered for 10 to 15 minutes, until the rice is tender and the cheese is bubbling, then rest for 5 minutes before serving.