While speaking to PopCulture.com, Hall dropped a few details about the film, confirming that Eddie Murphy and director Craig Brewer are on board, along with stating how he believes the film could potentially begin filming by August.
"[Coming to America 2 is] going to happen probably before the end of this year because they got Craig on payroll and they've already hired Ruth, who's an Oscar winning wardrobe person," he said.
Hall then joked that in Hollywood "if they're not paying anybody it's going to be on the long road, but if they have salaries" then the project is likely on a "short track."
"I would guess August," he said, later adding, "But that would be a guess. You would have to call Craig and Eddie to find out."
Regarding the status of the film's script, Hall stated, "I've seen a second to the last draft, and I say that because I know the new director always wants to take a shot at doing a final draft for himself."
Brewer is probably most well-known for his Oscar-winning hip-hop film Hustle & Flow, which he both wrote and directed. That movie took home Best Original Song for Three 6 Mafia's song "It's Hard out Here for a Pimp" at the 78th annual Academy Awards.
Other films that Brewer is known for include the Footloose remake, the upcoming comedy biopic Dolemite Is My Name, and the tragically underrated 2006 film Black Snake Moan. The latter film draws high praise from Hall to this day.
"I always joke about as whenever I want to pick something I've always said take Mr. Brewer with you to the pitch. Because when you can walk into a studio and say, 'Okay we chain a white woman up and Samuel Jackson plays a guitar,' When you can sell that I think you are the greatest salesman and greatest pitch artist in Hollywood," Hall quipped.
The former talk show host also joked about a conversation he had with Murphy recently, saying, "I was talking to Eddie the other day. I said, 'This is amazing after 30 years we're about to do the sequel. And we old as hell, dog. This time we'll be able to the barbers without makeup.' I know black don't crack, but it crack a little bit."
In addition to his return to the big screen, Hall is also currently getting back to his stand-up roots. He will be performing at Zanies in Nashville, Tennessee on Friday, April 19 and Saturday, April 20, with two shows each night at 7 p.m. and 9:15 p.m. Tickets can be purchased directly from Zanies here.