The dark comedy was formerly known as "Miss Meadows" and may revert to that title in the future.
Karen Hopkins is writing and directing the low-budget feature, which is being produced by Mark Johnson (not the "Narnia" producer) and Rob Carliner.
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Holmes will play a well-mannered substitute teacher on a mission to rid her community of evil predators. Badge Dale will play the town sheriff who falls for her.
Carliner, who did not respond to multiple requests for comment, has reportedly described the film as "'Pulp Fiction' meets 'Mary Poppins.'"
Holmes, who was last seen playing Adam Sandler's wife in "Jack and Jill," recently wrapped the indie "Mania Days" with Christine Lahti and Luke Kirby, as well as Christian Camargo's drama "Days and Nights." She's repped by ICM Partners, John Carrabino Management and attorney Robert Offer.
Badge Dale is coming off three-straight summer tentpoles in "Iron Man 3," "World War Z" and "The Lone Ranger." He recently wrapped Joe Carnahan's "Stretch" and will soon be seen in the JFK assassination drama "Parkland." He's repped by CAA, MJ Management and attorney Geoffry Oblath.