The second Columbus and Greenville Railway (reporting mark CAGY) was founded in 1974 and began operations in 1975 over divested Illinois Central Gulf Railroad trackage across the state of Mississippi.

In 2001, CAGY suspended service over 89.5 miles (144 km) of track between West Point and Greenwood due to a washout.

The majority owner of the Columbus and Greenville is CAGY Industries, which also owns the Luxapalila Valley Railroad and the Chattooga and Chickamauga Railway.

[4] As of April, 2023, the Coalition is being assisted by the Mississippi Hills National Heritage Area and various municipalities along the route.

They are working to acquire funding and develop preliminary plans for purchasing and converting the abandoned line to a usable trail.