There's no information besides that it exists but that's still exciting!
Neal Moritz, who produced the 1997 original starring Jennifer Love-Hewitt and Sarah Michelle Gellar, will return to produce the reboot. The script will be written by Jeff Howard and Oculus writer Mike Flanagan.
Happy to be writing a new "I Know What You Did Last Summer." (I'm NOT, however, directing or producing... Not sure where that came from)— Mike Flanagan (@flanaganfilm) September 15, 2014