Heat olive oil over medium-high heat, in a large dutch oven. While oil is heating, prepare the chicken. Season with salt and pepper, then prepare the spice mixture. In a small bowl combine garlic powder, onion powder, cumin, and coriander. Use half of the mixture to season the chicken and set the rest aside.
Once oil is hot and begins to shimmer when swirled around the pot, add seasoned chicken pieces in a single layer. Cook, undisturbed, on the first side for 5 minutes, until it browns. Once chicken is browned, flip and cook for another 2-3 minutes on the second side. The goal is not to cook the chicken through at this stage, just to brown it.
Remove the chicken and set aside. Add onions, bell pepper, and cilantro stems to the pot adding a drizzle of oil if needed. Season with salt and pepper, then add remaining seasoning mixture. Stir to combine and cook the vegetables over medium heat for 5 minutes, until beginning to soften. Stir occasionally to ensure nothing burns or sticks to the bottom of the pot.
Once vegetables begin to soften, add garlic and stir to combine. Cook for 1 minute then raise heat to high and add tequila. The tequila will bubble up when added. Using a wooden spoon or spatula, scrape up any bits from the bottom of the pan. After the tequila has almost evaporated, add the chicken, rice, and broth.
Stir to combine all ingredients and bring to a boil. Cover and lower to a simmer. Cook, covered, for 20 minutes, until rice is tender and liquid has been absorbed.