MELT butter in large skillet over medium-high heat. Add onion, bell pepper and garlic; cook, stirring occasionally, for 3 to 5 minutes or until tender.
STIR in beans, water, bouillon and thyme. Bring to a boil. Reduce heat to low. Cook, stirring occasionally, for 8 to 10 minutes or until tender. Stir in cornstarch mixture; cook, stiring occasionally, for 2 minutes.
SERVE over pasta. Sprinkle with cheese and parsley.