2000 Chevy Silverado code P1416 air system bank 2

This is the air injection system. Common causes are lholes or blockages in the hoses leading to the exaust manifold. In your case the right side manifold. Also check for kinks as enough air is not being pumped into the system setting this code. If not that then check valves and the air injections system must be checked, but you need a scan tool to do that.