Craig Zisk ("The Big C," "Nurse Jackie," "Weeds") will direct the comedy that features a script by Dan and Stacy Charlton.
The film centers on a beloved high school English teacher who reunites with a former student, who has failed as a playwright in New York. Upon his return, she convinces him to mount his unproduced play at the high school.
Moore will play the English teacher, and Lane will play the high school's drama teacher.
"The English Teacher" is produced by Naomi Despres, Robert Salerno, Matthew Chausse and Ben LeClair.
Lane won the Tony Award in 1996 for his performance in A Funny Thing Happened on the Way to the Forum and again in 2001 for his performance in The Producers. He was last seen on Broadway in The Addams Family. Moore has been seen on Broadway in The Vertical Hour.