Spray the bottom of the Instant Pot with nonstick cooking spray.
Pour 1/2 cup of the chicken broth into the bottom of the Instant Pot.
Add the chicken breasts to the pot and sprinkle them evenly with the taco seasoning.
Pour the rinsed and drained black beans and the corn over the chicken.
Pour the salsa over the beans and corn, then add the rinsed rice on top.
Add the remaining 1 cup of chicken broth, then press the rice down so it is submerged in the liquid.
Set the valve to sealing and cook on Manual (high pressure) for 8 minutes.
Allow a natural pressure release for 12 minutes, then perform a quick release for any remaining pressure.
Remove the lid and gently fluff the rice with a fork without stirring too vigorously. Replace the lid (power off) and let rest for 5 minutes.
Slide the rice to the side to locate the chicken breasts, remove them, and shred with two forks.
Spoon rice and bean mixture into bowls, top with shredded chicken and desired toppings such as cheese, cilantro, avocado, green onion, and sour cream. Serve with tortillas if you like.