In a medium saucepan, bring the water to a boil. Add the salt, butter, and rice. Cover, reduce heat to low, and simmer for 20 minutes, or until the water is absorbed. Remove, stir, and set aside.
Heat the oven to 350°. Butter a 2-quart baking dish.
Combine the sour cream, green chiles, and 1 cup of the cheese.
In the baking dish, layer about one third of the rice and one third of the sour cream mixture. Repeat the layers two more times. Sprinkle with the remaining 1/2 cup of cheese.
Bake for 30 minutes, until hot and bubbly.
Calories per serving: 420
Fat per serving: 22.8